The Portion of Income That Is Not Immediately Spent on the Consumption

question 108

Multiple Choice

The portion of income that is not immediately spent on the consumption of goods and services is called:

• A) savings.
• B) the reserve requirement.
• C) investment.
• D) loanable funds.

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Definitions:

Balance Brought Forward

A term used in accounting to describe the amount carried over from a previous period or page in a financial statement or ledger.

Check Amount

The numeric value indicating the total funds payable by the check.

Balance Carried Forward

The amount of money from a previous accounting period that is transferred to the current period's accounts.

Markup Percent

A percent that is used to compute the amount of dollar markup by multiplication. It could be a percent that multiplies the cost to find the dollar markup; or, it could be a percent that multiplies the selling price to find that dollar markup.