If bob loses his job at the gm plant because car manufacturing is slow due to a downturn in the economy, you can conclude that he is

Bob would be considered as cyclically unemployed when he loses his job at the gm plant because car manufacturing is slow due to a downturn in the economy. In addition, being cyclically employed is primarily cause by the different trends of the business cycle wherein employees get removed once the cycle reaches a lower stage.

The correct answer is  "b)  net income overstated, assets unaffected, liabilities understated, and owner's equity overstated."

To be honest, here's what i think. i think the answer is (and i'm not exactly sure), that it is, both personal and household income.