Use the Following to Answer Questions: Table: CPI -(Table: CPI) According to the Table, in Which of the l

question 14

Multiple Choice

Use the following to answer questions: Table: CPI $$\begin{array} { l c } \hline \text { Year } & \begin{array} { c } \text { CPI (End-of- } \\\text { Year Value) }\end{array} \\\hline 1999 & 110 \\2000 & 115 \\2001 & 117 \\2002 & 115 \\\hline\end{array}$$
-(Table: CPI) According to the table, in which of the following years did this country experience disinflation?

• A) 2001 only
• B) 2002 only
• C) both 2001 and 2002
• D) neither 2001 nor 2002

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Definitions:

Ledger

The principal book or computer file for recording and totaling economic transactions by account type, with debit and credit account records validated by a trial balance.

Unadjusted Trial Balance

A preliminary report that lists all the balances of a company's accounts before making any adjusting entries.

Post-Closing Trial Balance

A list of all the account balances of a business after closing entries for the accounting period have been made, ensuring the accounts are ready for the next period.

Financial Statements

Comprehensive reports created to communicate the financial performance, position, and cash flows of a business to external and internal stakeholders.