FIGURE 3-4 -Refer to Figure 3-4. What Does a Change from Point

question 62

Multiple Choice

FIGURE 3-4

-Refer to Figure 3-4. What does a change from Point A to Point B represent?

• A) a decrease in demand
• B) a decrease in quantity demanded
• C) an increase in demand
• D) an increase in quantity demanded

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Definitions:

Salvage Value

The forecasted residual worth of an asset at the conclusion of its serviceable life.

Loss on Disposal

A financial loss that occurs when the selling price of an asset is less than its carrying amount.

Revenue Account

An account that shows the income generated by a business from its normal operational activities.

Fully Depreciated

A status of a fixed asset when its book value is reduced to zero through depreciation over its useful life, assuming it has no salvage value.