A One-Time Rise in the Price Level Is

question 130

Multiple Choice

A one-time rise in the price level is:

• A)inflation if that rise is above 5%.
• B)inflation if that rise is above 10%.
• C)inflation if that rise is above 15%.
• D)not inflation.

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Definitions:

Compound Entry

In accounting, it refers to a journal entry that involves more than two accounts whereby multiple debits and/or credits are made.

Accounts Payable

Liabilities representing amounts owed by an entity to suppliers or creditors for goods and services received but not yet paid for.

Fees Earned

Revenue generated from providing services, as opposed to selling goods.

Capital

Financial assets or the financial value of assets, such as funds held in deposit accounts and/or funds obtained from special financing sources.