An Increase in the Public Debt Would Most Likely Indicate

question 90

Multiple Choice

An increase in the public debt would most likely indicate that

• A) the budget deficit has increased.
• B) the budget deficit has decreased.
• C) the trade deficit has decreased.
• D) national saving has increased.

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Definitions:

Assets

Resources owned or controlled by a business, expected to bring future economic benefits.

Correcting Entry

A journal entry made in an accounting ledger to correct a previously made error.

Unearned Service Revenue

Money received by a company for services yet to be provided, classified as a liability because it is an obligation to deliver services in the future.

Correcting Entry

An accounting entry made to correct an error found in the previously issued financial statements or records.