What Is the Current World's Population

question 33

Multiple Choice

What is the current world's population?

• A) almost 1 billion people
• B) almost 3 billion people
• C) almost 5 billion people
• D) over 7 billion people
• E) over 10 billion

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Definitions:

Contra Revenue Account

An account used to record deductions from gross revenue, including sales returns, allowances, and discounts.

Revenue Account

An account that records the income generated by a business from its normal operational activities.

Adjusting Entry

A journal entry made in accounting records at the end of an accounting period to allocate income and expenditures to the appropriate period.

Taxes Payable

The amount of tax a company or individual owes to the tax authorities but has not yet paid by the end of the accounting period.