Which of the Following Best Reflects an Increase in Quantity

question 414

Multiple Choice

Which of the following best reflects an increase in quantity demanded and not an increase in demand?

• A) A college expects enrollment to increase, despite no change in the tuition.
• B) Skiing becomes a fashionable winter sports activity.
• C) The price of hair styling falls.
• D) Consumers expect lower prices next month for computers.

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Definitions:

Refund Liability

An obligation recorded by a company to reflect anticipated refunds to customers for returned or unsatisfactory products.

Refund Liability

An obligation to return funds received from customers in the event of product returns or dissatisfaction, represented as a liability on the balance sheet.

Deferred Revenue Account

An account on a company's balance sheet that represents payment received from customers for goods or services not yet delivered or completed.

Contra Asset Account

An asset account where its balance is a negative figure that is subtracted from the balance of its related accounts on the balance sheet.