For each of the following, identify in column 1 the category to which the account belongs, in column 2 the normal balance for the account, and in column 3 the financial statement on which the account balance is reported.
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Definitions:
Slope
The measure of the steepness or incline of a line, indicating the rate at which y values change with respect to x values.
Budget Line
A chart that displays every possible mix of two commodities that could be bought, given a particular financial plan, with unchanging prices.
Price Ratio
The ratio expressing the relative prices of two goods or services, indicating how much of one is needed to trade for one unit of the other.
Marginal Rate
Refers to the rate at which one quantity changes with respect to a change in another quantity, commonly used in the context of taxes and interest rates.
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