-In Mid- 2008 Delta Increased the Price of a New

question 117

Multiple Choice

-In mid- 2008 Delta increased the price of a New York to LA ticket by 10 percent. As a result of this price hike, there was a shift in the demand curve for a ticket on Continental because the price of a had risen.

• A) leftward; complement
• B) rightward; substitute
• C) rightward; complement
• D) leftward; substitute

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Definitions:

Cash Receipts Journal

A specialized accounting journal that tracks all cash inflows or money received by a business.

Sales Journal

A specialized accounting journal used to record all sales made by a business on credit.

Sales Journal

A specialized accounting journal used to record all sales of merchandise on credit.

Cash Sales

Cash sales are transactions where payment is made immediately in cash or through electronic means at the time of purchase, without extending credit.