In the Statement of Changes in Financial Position, Sources of Resources

question 57

Multiple Choice

In the statement of changes in financial position, sources of resources are defined as:

• A)transaction debits.
• B)fund increases.
• C)transaction credits.
• D)fund decreases.

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Definitions:

Close Substitutes

Goods or services that can serve as replacements for each other with little loss of utility to the consumer.

OPEC Oil Cartel

An international organization of oil-producing countries that coordinates and unifies the petroleum policies of its member states to stabilize oil markets and prices.

Inelastic

Describing demand that does not significantly change with the price changes of a good or service.

Income Elasticities

Refers to the sensitivity of the demand for a good to changes in the income of the consumers who buy this good.