A Time-Series Graph Displays the Price of Gold

question 183

Multiple Choice

A time-series graph displays the price of gold.The slope of the line is negative for periods when the

• A) price of gold is falling.
• B) price of gold is rising.
• C) quantity of gold is falling.
• D) price of gold is low and not changing.
• E) price of gold fluctuates.

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Definitions:

Transactions

The financial events that affect the assets, liabilities, and equity of an entity, involving transfers or exchanges between two parties.

Cash Flows

The net amount of cash being transferred into and out of a business.

General Journal

The primary accounting record used for recording all day-to-day financial transactions of a company.

General Ledger

The master set of accounts that summarize all transactions occurring within an entity, serving as the main source for financial reporting.