Refer to the Information Provided in Table 22

question 203

Multiple Choice

Refer to the information provided in Table 22.5 below to answer the question(s) that follow.
Table 22.5
-Refer to Table 22.5. If 2014 is the base year, the inflation rate between 2014 and 2015 is

• A) 3.9%.
• B) 6.1%.
• C) 7.4%.
• D) 10.2%.

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Definitions:

Cash

Money in the form of currency that can include banknotes and coins, held in the immediate possession of or in bank accounts for the entity.

Rent

Payment made periodically by a lessee to a lessor for the use of land, buildings, or other property.

Unearned Revenue

Money received by a company for goods or services yet to be delivered or performed.

Purchase Order

A commercial document and first official offer issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services.