Use the Following to Answer Questions

question 214

Multiple Choice

Use the following to answer questions:
-(Table: The Consumer Price Index (CPI) ) Use Table: The Consumer Price Index (CPI) . The consumer price index in 2009 was 212.2. In 2010, it was 216.7. What was the rate of inflation from 2009 to 2010?

• A) 12.2%
• B) 4.5%
• C) 2.1%
• D) 16.7%

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Definitions:

Net Sales

Net Sales are the revenue from the sale of goods or services minus returns, allowances for damaged or missing goods, and discounts.

Selling Expense

Costs incurred directly from the sale of products or services, excluding production costs.

Promissory Note

A financial instrument that contains a written promise by one party to pay another party a definite sum of money either on demand or at a specified future date.

Maker

In financial terms, the party that issues or creates an instrument, such as a check or promissory note, effectively promising to pay the amount specified.