The Data in the Table Above Shows the Consumption by |

question 16

Multiple Choice

$$\begin{array} { | l | c | c | c | c | } \hline \text { Item } & \begin{array} { c } \text { Quantity } \\( 2011 ) \end{array} & \text { Price (2011) } & \begin{array} { c } \text { Quantity } \\( 2012 ) \end{array} & \text { Price (2012) } \\\hline \text { Magazines } & 400 & \$ 5.00 & 450 & \$ 4.50 \\\hline \text { Movie tickets } & 50 & \$ 6.00 & 200 & \$ 8.00 \\\hline \text { Pizzas } & 100 & \$ 10.00 & 120 & \$ 10.50 \\\hline\end{array}$$
The data in the table above shows the consumption by families in an economy. The year 2011 is the reference base period.
-Based on the table above, between 2011 and 2012, the inflation rate in this country was

• A)-1.5 percent.
• B)105.1 percent.
• C)2.5 percent.
• D)98.5 percent.
• E)-2.5 percent.

---

Definitions:

Net Loss

Net loss is when a company's expenses exceed its revenues during a specific period, leading to a negative profit margin.

Rent in Advance

Payment for rent that is made before the rental period begins, usually as a requirement by landlords before tenants occupy the property.

Adjusting Entry

An accounting record created at the closing of an accounting cycle to assign revenues and expenses to the relevant fiscal years.

Asset Account

An account that represents a resource owned or controlled by a business, expected to provide future economic benefits.