Figure 1-1 -Refer to Figure 1-1. Using the Information in the Figure

question 46

Multiple Choice

Figure 1-1
-Refer to Figure 1-1. Using the information in the figure above, calculate the percentage change in sales of alcoholic beverages between 2008 and 2011.

• A) 23.1%
• B) 23.8%
• C) 30%
• D) 42.9%

Calculate the unemployment rate in various contexts.

Define and distinguish between employed, unemployed, discouraged workers, and not in the labor force.

Identify factors that influence changes in the unemployment rate.

Describe different types of unemployment (frictional, structural, cyclical, seasonal).

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Definitions:

Income Statement Accounts

Accounts that reflect the income, expenses, gains, and losses of a business over a period of time.

IFRS

International Financial Reporting Standards, a set of global accounting guidelines that provide a common language for business affairs so that company accounts are understandable and comparable across international boundaries.

Direct Method

In cash flow reporting, a method that lists the major categories of gross cash receipts and gross cash payments.

Indirect Method

A technique used in cash flow statement preparation that adjusts net income for the changes in balance sheet accounts to arrive at the cash flow from operating activities.