Which Chain of Events Is Listed in the Correct Order

question 289

Multiple Choice

Which chain of events is listed in the correct order?

• A) quantity supplied increases, price increases, demand increases
• B) price increases, demand increases, quantity supplied increases
• C) demand increases, price increases, quantity supplied increases
• D) demand increases, quantity supplied increases, price increases

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Definitions:

Posting Reference Column

A ledger column used to indicate the account number or code that corresponds to each entry, facilitating cross-referencing between ledgers.

Journal

A book or digital record where transactions are initially recorded before they are posted to ledgers.

Liability Account

An accounting record that captures obligations or debts a company owes to others, which are expected to be paid in the future.

Expense Account

An account where businesses track costs incurred during operations, often related to employees' business-related expenses.