The Adjustment of the ____________ Is the Rationing Mechanism in Market

question 205

Multiple Choice

The adjustment of the ____________ is the rationing mechanism in market economies.

• A)price
• B)competition
• C)government
• D)None of the choices are correct.

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Definitions:

Closing

The process of finalizing accounts at the end of an accounting period, leading to the preparation of financial statements.

Real Accounts

Accounts that represent assets, liabilities, and equity of a business and carry their balances permanently across accounting periods.

Accounting Period

The time span during which financial activities are recorded and reported, commonly a fiscal year or quarter.

Expense Accounts

Accounting categories used to track money spent or costs incurred in a company’s operations.