A Rise in the General Level of Prices Over Time

question 22

Multiple Choice

A rise in the general level of prices over time is called ________.

• A) deflation
• B) inflation
• C) disinflation
• D) deflection

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Definitions:

NSF Check

A cheque that cannot be processed because the drawer's account does not have sufficient funds.

Debit Memo

A document issued by a purchaser to a seller to adjust or correct a previously issued invoice.

Adjusted Cash Balance

The cash amount shown in the books after adjustments have been made for checks, deposits in transit, and other items.

September Bank Reconciliation

The process of matching and comparing figures from the accounting records against those presented on the September bank statement to ensure consistency and accuracy in the financial records.