-The Table Above Has Information About the CPI,nominal Wage Rate,and

question 272

Multiple Choice

-The table above has information about the CPI,nominal wage rate,and nominal interest rate for the country of Syldavia for the years 2010 to 2012.The reference base year is 2010.The real interest rate in Syldavia during 2012 was

• A)2.8 percent.
• B)5.2 percent.
• C)9.0 percent.
• D)0.6 percent.
• E)8.4 percent.

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Definitions:

Wages Payable

Liabilities representing the amounts owed to employees for work performed but not yet paid.

Post-Closing Trial Balance

A list of all accounts remaining after closing entries have been made, showing the balances ready for the next accounting period.

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, thus preparing the books for the next period.

Unadjusted Trial Balance

A preliminary list of all accounts and their balances before any adjusting entries are made, used to verify the equality of debits and credits.