The Average Decline in GDP Growth for All Recessions Since

question 27

Multiple Choice

The average decline in GDP growth for all recessions since 1950 is ________ percent, but for the Great Recession it was ________ percent.

• A) 2.1; 6.1
• B) 0.4; 31.4
• C) 3.7; 1.7
• D) 1.7; 4.7
• E) 0; 2.2

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Definitions:

Accounts Receivable

Accounts receivable represents money owed to a company by its customers for goods or services provided on credit.

Notes Receivable

Financial assets representing money owed to a company by customers or others, usually evidenced by a written promissory note.

Accounts Receivable

Monies owed to a company by customers for products or services that have been delivered or used but not yet paid for.

Aging the Accounts

The process of categorizing and reviewing accounts receivable based on the length of time an invoice has been outstanding.