When the Price of an Hour of Tutoring Increases

question 38

Multiple Choice

When the price of an hour of tutoring increases,

• A) the demand for tutoring decreases.
• B) the demand for tutoring increases.
• C) the demand curve for tutoring shifts.
• D) the quantity demanded for tutoring increases.
• E) the quantity demanded for tutoring decreases.

Understand and apply the process of journalizing transactions in various business scenarios.

Identify and correct common errors in journal entries and trial balances.

Prepare trial balances and understand their role in the accounting cycle.

Recognize the effects of transactions on the accounting equation.