One Consequence of Unemployment Is That

question 21

Multiple Choice

One consequence of unemployment is that:

• A) some productive potential of the economy is being wasted.
• B) the time and skills of the unemployed are not being put to use.
• C) it can create uncertainty about the future.
• D) All of these are consequences of unemployment.

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Definitions:

Adjustments

Entries made in accounting records at the end of an accounting period to allocate revenues and expenses to the period in which they actually occurred.

Account Balances

The amounts in financial accounts at a specific point in time, reflecting the difference between debits and credits.

Supplies Account

An account used in accounting to track the amount spent on supplies used within an organization.

Adjustment

Entries made in accounts to correct errors or allocate income and expenses to the correct accounting period.