If the Consumer Price Index Was 88 in 2009, 95

question 63

Multiple Choice

If the consumer price index was 88 in 2009, 95 in 2010, and 100 in 2011, then the base year must be

• A) 2009.
• B) 2010.
• C) 2011.
• D)The base year cannot be determined from the given information.

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Definitions:

Bond Payable

A long-term debt instrument issued by a company, promising to pay the holder a specified amount of interest over a set period and to repay the principal on the bond's maturity date.

Long-Term

Referring to assets, liabilities, or investments that are expected to be held or mature in more than one year.

Interest-Bearing Note

A promissory note that comes with the agreement to pay the holder a fixed amount of interest over a specified period until the principal amount is repaid.