Refer to the Scenario Above

question 12

Multiple Choice

Refer to the scenario above.If you are told that the increase in emerald sales was due to an increase in the supply of 1-carat commercial grade emeralds,you can conclude that commercial grade emerald prices ________.

• A) increased
• B) remained constant
• C) decreased
• D) was uncertain

---

Definitions:

Fiscal Year

A financial year used for accounting purposes, which in many countries is different from the calendar year.

Statement of Cash Flows

A report presenting the impact of variations in balance sheet positions and income on cash and cash equivalents, divided into operations, investments, and finance activities.

Financing Activities

Transactions that involve raising capital and repaying investors, including issuing equity, obtaining loans, and paying dividends.

Operating Activities

Activities that relate to the core operations of a business, including the production, sales, and distribution of the business's goods or services.