Jamarcus Works Part-Time as a Pizza Delivery Person in a College

question 23

Multiple Choice

Jamarcus works part-time as a pizza delivery person in a college town.The Bureau of Labor Statistics counts Jamarcus as

• A)unemployed and in the labor force.
• B)unemployed and not in the labor force.
• C)employed and in the labor force.
• D)employed and not in the labor force.

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Definitions:

Amortized

The process of gradually writing off the initial cost of an asset over a period of time or spreading out a loan payment.

Discount on Bonds Payable

The difference between the bonds' par (or face) value and their lower selling price, representing additional interest expense to the issuer over the term of the bonds.

Bond Interest Payable

A liability account that records the amount of interest due on bonds that have not yet been paid to bondholders.

Current Liability

A financial obligation that is due to be paid within one year or within the normal operating cycle of the business, whichever is longer.