Suppose There Are 200 Million Persons in the Population,120 Million

question 2

Multiple Choice

Suppose there are 200 million persons in the population,120 million persons in the civilian labor force,and 90 million persons are employed.The number of persons unemployed is _______ million and the unemployment rate is ___________ percent.

• A) 30; 25
• B) 30; 33
• C) 30; 5
• D) 80; 40

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Definitions:

Bad Debt Expense

An expense reported on a company's income statement, representing the estimated amount of accounts receivable that will not be collected.

Sales Returns

Goods returned to the seller by the customer post-purchase due to defects or dissatisfaction, affecting the seller's revenue.

Estimated Uncollectibles

Estimated uncollectibles are a provision for debts that are not expected to be collected due to customers being unable or unwilling to pay.

Specific Account Receivable

This pertains to a distinct claim for payment for goods sold or services provided on credit that is owed to a company by its customer.