What Would Be the Best Description of What We Assume

question 84

Multiple Choice

What would be the best description of what we assume about money prices in the short run?

• A) Money prices of goods and services vary.
• B) Money prices of goods and services are not related to each other.
• C) Money prices of goods are fixed.
• D) Money prices of services are fixed.
• E) Money prices of goods and services are only temporarily fixed.

---

Definitions:

Accounts Payable

Liabilities representing amounts owed to creditors for goods and services received but not yet paid for.

Retired

In accounting and finance, this term often indicates that an asset has been taken out of service or that a debt instrument, like a bond, has been paid off and is no longer in circulation.

Bonds Payable

Bonds payable refers to the amount of money a company owes to holders of its bonds, representing a long-term debt obligation.

Credit Cash

An accounting entry that represents an increase in cash or cash equivalents, indicating funds being added to the company’s assets.