An Economic Variable That Measures Something at a Particular Point

question 65

Multiple Choice

An economic variable that measures something at a particular point in time is called a _____.

• A)stock variable
• B)periodic variable
• C)dummy variable
• D)flow variable
• E)constant variable

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Definitions:

Adjusting Entry

A journal entry made at the end of an accounting period to allocate income and expenditure to the correct period.

Interest Income

Income earned from investments, savings, or credit extended, such as interest on bonds, savings accounts, or loans provided to others.

Interest Accrued

The amount of interest that has been earned or incurred but has not yet been paid or received.

Note Paid

Represents the full repayment or settlement of the amount owed as denoted in a promissory note.