All of the Following Are Time Periods That the U

question 206

Multiple Choice

All of the following are time periods that the U.S.economy experienced a period of recession EXCEPT:

• A)1973−1975.
• B)1981−1982.
• C)1990−1991.
• D)2007−2009.
• E)2010−2013.

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Definitions:

Cash Receipts

The collection of money (cash, checks, wire transfers) by a business during a given period, often recorded in the cash receipts journal.

Disbursements

Payments made by a business, including amounts paid out for expenses, through methods like checks or electronic transfers.

Accounts Receivable

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

Subsidiary Ledger

A ledger containing the details of accounts summarized in a controlling account in the general ledger.