The State of Ohio Has a Dwindling Population

question 28

Multiple Choice

The state of Ohio has a dwindling population.In an effort to increase the birthrate in the state,Ohio offers a $5,000.00 bonus to all families giving birth in the state for the next three years.Which of the following is the latent function?

• A)an increase in the birth rate for the state of Ohio
• B)an increase in the population in the state of Ohio
• C)an increase in the need for teachers as a result of more children in the Ohio educational system
• D)All of these are latent functions.

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Definitions:

Liability Account

An accounting record that captures the amounts owed by a business to others, representing its debts or obligations.

Double-Entry System

An accounting system that records each transaction twice, as debits in one account and credits in another, to ensure the accounting equation remains balanced.

Accounting Equation

The fundamental equation stating that Assets = Liabilities + Equity, which is the basis of the double-entry bookkeeping system.

Accounts Payable

Liabilities of a business that are owed to creditors for goods and services purchased on credit but not yet paid.