Mike Has Been Unemployed for Over a Year

question 1

Multiple Choice

Mike has been unemployed for over a year.He hasn't looked for a job in the last three months,but he's just started looking for work again.Because Mike started looking for a new job

• A)the unemployment rate increased.
• B)the labor force participation rate decreased.
• C)the unemployment rate decreased.
• D)the working-age population increased.

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Definitions:

Adjusting Entry

An accounting record made to adjust income or expenditure in accounts to reflect the accrual basis of accounting properly.

Stockholders' Equity

The ownership claim on a corporation's assets that remains after all liabilities are accounted for, denoting shareholder interest.

Current Assets

Short-term assets that are expected to be converted into cash within one year or within the operating cycle of a business.