If the CPI Was 128 at the End of 2016

question 106

Multiple Choice

If the CPI was 128 at the end of 2016 and 136 and the end of 2017, what was the inflation rate in 2017?

• A)9.4 percent
• B)8 percent
• C)4.2 percent
• D)6.25 percent
• E)5.9 percent

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Definitions:

Debit Column

The left-hand column in an account or financial statement where debits are recorded, typically representing increases in assets or expenses and decreases in liabilities or equity.

Credit Column

Part of an accounting record where increases in liabilities, revenues, and equity accounts are recorded.

Accounting Record

A documented transaction or financial event that is used in the process of accounting.

Owner's Equity

Owner's equity represents the owner's claim on the assets of a business, calculated as the business's assets minus its liabilities.