Which of the Following Results in a Movement Along the Supply

question 479

Multiple Choice

Which of the following results in a movement along the supply curve of spinach but does NOT shift the supply curve of spinach?

• A) disastrous weather that destroys half of this year's spinach crop
• B) a rise in the price of spinach
• C) an increase in wages for workers in spinach fields
• D) great weather that produces a bumper spinach crop this year

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Definitions:

Net Income

The total profit of a company after all expenses, including taxes and operating costs, have been deducted from total revenues.

Gain Contingencies

Potential increases in assets or decreases in liabilities that may occur as a result of a future event, and which are acknowledged in financial statements if they are probable and can be reasonably estimated.

Footnote Disclosures

Explanatory notes added to the financial statements to provide more detailed information about certain figures.

Subsequent Events

Events occurring after the balance sheet date but before the financial statements are issued, which could materially affect the financial statements if not accounted for.