A Country's Consumer Price Index Was 129 for Year 1

question 17

Multiple Choice

A country's Consumer Price Index was 129 for Year 1 and 133 for Year 2.The inflation rate of the country between the two years was approximately ________.

• A) 3.1 percent
• B) 4 percent
• C) 2.2 percent
• D) 6 percent

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Definitions:

Gross Profit Rates

The ratio of gross profit to net sales, indicating the percentage of revenue that exceeds the cost of goods sold.

Summarized Financial Information

A condensed version of financial statements that presents the key figures of a company's financial performance and position.

Seasonal Revenues

Income generated by a business that varies depending on the time of year, often due to consumer demand patterns.

Capital Leases

A capital lease is a lease considered to have the economic characteristics of asset ownership for accounting purposes.