Which of the following statements is true in the context of the Great Recession?
a. The economy completely recovered from the Great Recession in 2009.
b. The Great Recession spread to the globe by 2008.
c. The middle class was the least affected by the Great Recession.
d. The Great Recession increased employment rates to almost ten percent.
ANSWER: b
By 2008, the recession had spread around the globe. A very slow economic recovery began in July 2009 and continues to this day.
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___ allow for future situations that are unpredictable.
a. Contingency reserves b. Management reserves c. Known unknowns d. Indirect reserves
In which of the following ways is a limited liability company like a corporation?
A) It was created and developed first in the United States. B) It can choose to be considered a partnership for tax purposes. C) Its owners' liability is restricted to their investment. D) It is directly managed by the owners.