What Was the Approximate GDP Per Person in Canada in 2014

question 16

Multiple Choice

What was the approximate GDP per person in Canada in 2014?

• A) $42,000
• B) $45,000
• C) $48,000
• D) $56,000

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Definitions:

Straight-Line Amortization

A method of calculating the depreciation of an asset or the repayment of a loan in equal installments over a specified period of time.

Accrued Interest

Interest that has accumulated but remains unpaid.

Discount on Bonds Payable

The difference between the face value of a bond and its lower selling price before maturity, reflecting investor perceptions of risk or interest rate differences.

Adjusting Entry

An accounting entry made at the end of an accounting period to allocate income and expenditure to the correct period for a more accurate financial statement.