- In the Above Figure, the Shift in the Demand Curve

question 27

Multiple Choice

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In the above figure, the shift in the demand curve from D to D1 can be the result of

• A)an increase in the price of a sub sandwich, a substitute for pizza.
• B)a change in quantity demanded.
• C)an increase in the price of pizza.
• D)an increase in the price of soda, a complement to pizza.
• E)a decrease in income if pizza is a normal good.

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Definitions:

Adjusting Entries

They are adjustments made in journal accounts to record expenses and revenues that have accrued but not yet been recorded through standard accounting transactions.

Vertical Analysis

A financial statement analysis method where each entry for each of the three major categories (assets, liabilities, and equity) is represented as a proportion of total value.

Financial Statement

A formal record of the financial activities and position of a business, individual, or other entity, typically comprising the balance sheet, income statement, and cash flow statement.

Income Statement

A financial statement that reports a company's financial performance over a specific accounting period, detailing revenue, expenses, and profits.