What Can Cause the Price of a Good to Rise

question 17

Multiple Choice

What can cause the price of a good to rise?

• A) An increase in demand or a decrease in supply
• B) An increase in demand or an increase in supply
• C) A decrease in demand or an increase in supply
• D) A decrease in demand or a decrease in supply

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Definitions:

Statement of Owner's Equity

A financial document showing the changes in the equity of a company over a specified period, including additions through earnings and subtractions due to withdrawals.

Debits

These represent transactions that increase assets or expenses or decrease liabilities, equity, or revenue in a company's accounts.

Credits

Entries that decrease assets or increase liabilities and equity on a company's balance sheet, reflecting the accounting principle of double-entry bookkeeping.

Ending Owner's Equity

Ending Owner's Equity represents the final amount of owner's equity in a business at the conclusion of an accounting period, after accounting for all additions and deductions.