Which of the Following Is a True Statement in Reference

question 108

Multiple Choice

Which of the following is a true statement in reference to the national debt?

• A)As a percentage of GDP,it has steadily grown since World War II.
• B)As a percentage of GDP,it has decreased in recent years.
• C)It is almost entirely a result of World War II.
• D)It is now large enough for one to question the government's solvency.
• E)It is now growing at about $10 billion per year.

---

Definitions:

Ending Inventory

The cost of inventory on hand for selling at the conclusion of an accounting cycle.

Consignment

A business arrangement wherein goods are left in the possession of an authorized third party to sell, but ownership remains with the supplier until items are sold.

Ending Inventory

The total value of all inventory held by a company at the end of an accounting period.

FOB Destination

A shipping term indicating that the seller is responsible for the freight and other shipping charges until the goods reach the buyer's location.