When expenses, such as employee wages, are not paid for until after they have been performed, the accrued expense is recorded in the accounts by an adjusting entry at the end of the accounting period.

Describe the dominance model.

What will be an ideal response?

An economic ____ is the phase in which unemployment begins to decrease, demand for goods and services increases, and GDP begins to rise again.

Fill in the blank(s) with the appropriate word(s).