A Decrease in the Price of a Good Will, All

question 223

Multiple Choice

A decrease in the price of a good will, all other things unchanged, result in:

• A) an increase in demand.
• B) an increase in supply.
• C) an increase in the quantity demanded.
• D) more being supplied.

---

Definitions:

Service Fee

A charge for the provision of a service, often added to the basic price of the service.

Journal Entries

The basic unit of accounting record that details a financial transaction, showing debits and credits to accounts impacted by the transaction.

Honoring

The act of fulfilling or adhering to agreements, commitments, or payments.

Dishonoring

Dishonoring occurs when a promised payment, such as a check or electronic payment, is not completed due to insufficient funds or rejection by the bank.