Which Phase of the Business Cycle Would Be Most Closely

question 42

Multiple Choice

Which phase of the business cycle would be most closely associated with an economic contraction?

• A)peak
• B)recession
• C)trough
• D)expansion

Understand the stages and activities involved in developing strategic PR programming.

Identify the objectives and strategies behind successful PR campaigns.

Recognize the role of stakeholder relationships and corporate social responsibility in driving social change.

Comprehend the importance of focusing objectives within a strategic PR plan.

---

Definitions:

Adjusted Trial Balance

A listing of all company accounts that will appear in the financial statements after adjustments have been made for journal entries.

Drawing Account

An account used to record withdrawals of business assets by the owner for personal use, reducing the capital account.

Salary Expense

The cost incurred by a company for the payment of regular salaries to its employees.

Accrued Salaries

Salaries that have been incurred but not yet paid by the end of a financial period, representing a liability for the business.