Fred Has Lost His Factory Job, Replaced by Welding Robots

question 103

Multiple Choice

Fred has lost his factory job, replaced by welding robots, and soon plans to go to technical school to learn computer repair because he cannot find a similar job to the one he lost.The type of unemployment facing Fred is:.

• A)frictional.
• B)structural.
• C)cyclical.
• D)natural.
• E)seasonal.

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Definitions:

Journal

A financial record where all transactions are initially recorded in chronological order before being posted to individual accounts.

Chronologically

In order of time, from the earliest to the latest.

Unearned Revenues

Money received by a company for services or goods yet to be provided or delivered, recorded as a liability.

Revenues

Inflows of assets or settlements of liabilities from the company's primary operations, typically from sales of goods or services.