Which of the Following Events Would Cause a Movement Upward

question 356

Multiple Choice

Which of the following events would cause a movement upward and to the right along the supply curve for tomatoes?

• A) The number of sellers of tomatoes increases.
• B) There is an advance in technology that reduces the cost of producing tomatoes.
• C) The price of fertilizer decreases,and fertilizer is an input in the production of tomatoes.
• D) The price of tomatoes rises.

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Definitions:

Depreciation Expense

The allocation of the cost of an asset over its useful life, reflecting the asset's consumption, wear and tear, or obsolescence.

Balance Sheet

A financial statement that provides a snapshot of a company's assets, liabilities, and shareholders' equity at a specific point in time.

Adjusted Trial Balance

A list of all accounts and their balances after adjustments are made, used to prepare financial statements.

Prepaid Insurance

An asset account that represents insurance paid in advance for coverage extending over a future period, which has not yet expired.