The Percentage Change in Any Economic Variable,including the Consumer Price

question 127

Multiple Choice

The percentage change in any economic variable,including the consumer price index (CPI) ,is measured by which equation?

• A) (Previous Year - Current Year √ Previous Year) * 100.
• B) (Current Year - Previous Year √ Previous Year) * 100.
• C) (Current Year - Previous Year √ Current Year) * 100.
• D) Previous Year - Current Year √ Previous Year.
• E) Current Year - Previous Year √ Previous Year.

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Definitions:

Business Enterprises

Organizations engaged in commercial, industrial, or professional activities, aiming to generate profits from their operations.

CICA Handbook

The official guide published by the Canadian Institute of Chartered Accountants detailing accounting standards and practices in Canada.

IFRS

International Financial Reporting Standards, which are a set of accounting standards developed by the International Accounting Standards Board (IASB).

U.S. GAAP

United States Generally Accepted Accounting Principles, the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC) for financial reporting.