From the End of the World War II,the Debt-GDP Ratio

question 146

Multiple Choice

From the end of the World War II,the debt-GDP ratio in the United States fell almost without interruption to a low point in ________,which marked the beginning of a long-run climb.

• A)1955
• B)1962
• C)1974
• D)1984
• E)1990

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Definitions:

Income Tax Payable

A liability account on a company's balance sheet representing the amount of income taxes owed to various governmental entities but not yet paid.

Accrued Expenses Payable

Liabilities recorded on the books for expenses that have been incurred but not yet paid.

Accounts Payable

Liabilities of a business that are owed to creditors and suppliers, typically for purchases made on credit.

Operating Expenses

The costs associated with running a business day-to-day, excluding the cost of goods sold. This includes expenses such as rent, utilities, and payroll.