The Measure Used to Report Price Changes at the Wholesale

question 168

Multiple Choice

The measure used to report price changes at the wholesale level is the

• A) gross domestic product (GDP).
• B) consumer price index (CPI).
• C) gross output (GO).
• D) producer price index (PPI).

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Definitions:

General Journal

A primary accounting record used to record all types of transactions not specifically assigned to another journal.

Sales Discount

A reduction given by a seller for prompt payment of a credit sale.

Cash Receipts Journal

A specialized accounting journal used to keep track of all cash inflows or receipts from various sources.

Entry

A record in an account that documents a financial transaction in bookkeeping.