The Order of the Entries Made in the Ledger Is

question 29

Multiple Choice

The order of the entries made in the ledger is by

• A) transaction number
• B) account number
• C) date
• D) user

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Definitions:

Demand Shift

Occurs when a change in factors other than the price of the good itself leads to a change in consumer demand, causing the demand curve to move left or right.

Equilibrium Price

The price at which the quantity of a good demanded equals the quantity supplied, leading to no shortage or surplus.

MR

Short for Marginal Revenue, it is the increase in revenue from selling one additional unit of a good or service.

Negative Profits

A financial loss or situation where expenses exceed revenues in a business.