Demonstrating How an Economic Variable Changes from One Year to the Next

question 169

Multiple Choice

Demonstrating how an economic variable changes from one year to the next is best illustrated by a

• A)Venn diagram.
• B)cross-section graph.
• C)linear graph.
• D)time-series graph.
• E)scatter diagram.

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Definitions:

Unamortized Patent

The portion of a patent's cost that has not yet been expensed against earnings over its useful life.

Adjustment Necessary

Indicates a need to modify financial statements or entries to reflect accurate and fair information.

Land Account

An account used in accounting to record the cost of land owned by a company, which is a non-depreciable asset.

Unamortized Patent

The portion of a patent's cost that has not yet been expensed through the process of amortization.