The Account "Accounts Payable" Began with a Zero Balance and Then

question 15

Multiple Choice

The account "Accounts Payable" began with a zero balance and then had the following changes: increase of $250,increase of $525,decrease of $175,and an increase of $300.The final balance is a:

• A)credit balance of $900.
• B)debit balance of $900.
• C)credit balance of $1,250.
• D)debit balance of $1,250.

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Definitions:

Demand

The quantity of a good or service that consumers are willing and able to purchase at each possible price level.

Cost Data

Information regarding the expenses incurred in the production, operation, or undertaking of a project, activity, or product.

Monopolistically Competitive

An arrangement in the economy where countless firms are selling products that look similar but are unique, thus permitting them a slight advantage in the market.

Product Differentiation

The method of differentiating a product or service to appeal more to a specific target market.