I the Base Number for Most Indexes Is 1

question 24

Multiple Choice

i. The base number for most indexes is 1.
ii. Most business and economic indexes are carried either to the nearest whole percent, such as 312
Or 96, or to the nearest 10th of a percent, such as 97.5 and 178.6.
iii. Converting data to indexes makes it easier to compare the trend in a series composed of
Exceptionally large numbers.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) and (ii) are correct statements but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (i), (ii), and (iii) are all false statements.

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Definitions:

Variable Costs

Variable costs are expenses that change in proportion to the activity or volume of a business operation, such as materials and labor.

CCA Class

Capital Cost Allowance Class, a Canadian tax classification system for categories of depreciable property.

Book Value

is the net value of a company's assets found on its balance sheet, subtracting liabilities from the total value of assets.

Resell

The act of selling something that one has purchased to another buyer, often for a price higher than the original purchase price.