For Each of the Following, Identify in Column 1 the Category

question 27

Essay

For each of the following, identify in Column 1 the category to which the account belongs, in Column 2 the normal balance for the account, in Column 3 the financial statement(s)on which the account balance is reported, and in Column 4 the account's nature (permanent/temporary).
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Definitions:

CPI

This index, known as the Consumer Price Index, evaluates the weighted average cost of a collection of goods and services bought by consumers, covering areas like food, medical care, and transportation.

Base Year

A specific year against which economic growth is measured, serving as a benchmark for relative economic data comparisons.

Business Cycle

The cyclical fluctuations in economic activity that an economy experiences over a period of time, including periods of expansion and contraction.

Last Recession

The most recent period of significant decline in economic activity spread across the economy, lasting more than a few months, typically visible in real GDP, real income, employment, industrial production.