If the Price of Hamburger Increases, It Would Probably Result

question 189

Multiple Choice

If the price of hamburger increases, it would probably result in ________ in the demand for hamburger buns.

• A) a decrease
• B) an increase
• C) no change
• D) random fluctuations

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Definitions:

Liability Account

A liability account records the obligations or debts a company owes to others, such as loans, accounts payable, and mortgages.

Asset Account

An account on a company's balance sheet that represents a resource with economic value owned or controlled with the expectation that it will provide future benefit.

Expense Account

An account that tracks money spent on business operations, often categorized for budgeting and tax purposes.

Asset Account

An account that represents resources owned or controlled by a company from which future economic benefits are expected.