Figure 14.2 -Refer to Figure 14.2. a Movement from Point a to a to Point

question 152

Multiple Choice

Figure 14.2
-Refer to Figure 14.2. A movement from point a to point c could be caused by a(n)

• A) increase in government spending.
• B) decrease in the price of oil.
• C) increase in taxes.
• D) increase in short-run aggregate supply.

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Definitions:

Accounts Receivable Subsidiary Ledger

A book or file that contains the individual records, in alphabetical order, of amounts owed by various credit customers.

Accounts Payable Journal

A ledger that records all short-term obligations or debts a company owes to suppliers and creditors.

Sales Journal

A specialized journal used to record all of a company's sales on credit.

Controlling Account

A general ledger account that summarizes the total balances of several subsidiary accounts, providing an overview and facilitating reconciliation.