In 1820 the Country with the Highest Per Capita GDP

question 140

Multiple Choice

In 1820 the country with the highest per capita GDP was ______________________.In 1900 the country that ranked #1 in terms of per capita GDP was ___________________ and fifty years later the top ranking was held by _________________________.

• A) the Netherlands; New Zealand; the United States.
• B) the Netherlands; Australia; Switzerland.
• C) the United States; the United States; the United States.
• D) Austria; Australia; New Zealand.

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Definitions:

Accounts Payable

Liabilities representing amounts owed by a company to suppliers for goods and services received but not yet paid for.

Credit Entries

Accounting entries that increase liabilities or equity or decrease assets, reflecting gains to a company's balance sheet.

Expense Account

An income statement account that represents the cost of goods sold or services provided to generate revenue.

Credit Balance

A credit balance occurs when the total credits in an account exceed the debits, often seen in liability, revenue, and equity accounts.