According to David Harvey,the Vast Expansion of Suburban Development Outside

question 47

Multiple Choice

According to David Harvey,the vast expansion of suburban development outside of cities was most significantly influenced by:

• A)racism
• B)where firms decide to place their factories
• C)tax breaks and loan support provided by the federal government
• D)gentrification
• E)none of the above

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Definitions:

Income Summary

An account to which all income statement account balances are transferred at the end of an accounting period to determine the net profit or loss.

Net Loss

The amount by which total expenses exceed total revenues for a business, indicating a financial loss.

Income Summary Account

An account used in closing process to aggregate all income and expenses accounts before determining and transferring the net income or loss to the capital account.

Adjusting Entries

Entries recorded at the conclusion of an accounting period to adjust the balances of accounts prior to the compilation of financial statements.