If Accounts Payable Have Increased During a Period

question 213

Multiple Choice

If accounts payable have increased during a period

• A) revenues on an accrual basis are less than revenues on a cash basis.
• B) expenses on an accrual basis are less than expenses on a cash basis.
• C) expenses on an accrual basis are greater than expenses on a cash basis.
• D) expenses on an accrual basis are the same as expenses on a cash basis.

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Definitions:

Demand Curve

An illustrated chart that displays the connection between a product's price and the amount consumers want to buy.

Quota

Trade limitations set by the government which restrict the amount or fiscal value of products that can be brought in or sent out over a certain period.

Demand Price

The maximum amount consumers are prepared to spend on a product or service for a specific quantity.

Taxicab Medallions

License plates issued by a local government authority that allow a vehicle to operate as a taxi.