Which of the Following Is True of Government Regulation of Business

question 15

Multiple Choice

Which of the following is true of government regulation of business?

• A) Government regulations only affect the operation of certain businesses.
• B) Government regulations do not affect product prices.
• C) Government regulations are used to eliminate abuse in business.
• D) Government regulations are used to improve quality of life for only certain sections of society.

---

Definitions:

Cash Sales

Transactions in which goods or services are paid for and received at the time of the sale, using cash or equivalent.

Sales Taxes

Taxes imposed by governments on the sale of goods and services.

Journal Entry

A record in accounting that notes transactions and changes in financial statements.

Net Pay

The amount of money an employee takes home after all deductions, such as taxes and benefits, are taken out of their gross salary.