Match the Terms with the Definitions

question 93

Multiple Choice

Match the terms with the definitions.
-Items that the bank deducts from the account.

• A)outstanding checks
• B)cash
• C)petty cash voucher
• D)automated teller machines
• E)change fund
• F)internal control
• G)credit memos
• H)debit memos

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Definitions:

GDP Deflator

An index that measures the change in prices of all new, domestically produced, final goods and services in an economy over a period of time.

Inflation Rate

The magnitude of price escalation for goods and services across the board, causing a drop in consumer purchasing prowess.

Inflation Rate

The percentage increase in the general price level of goods and services in an economy over a given period, often measured annually.

GDP Deflator

An assessment tool for the prices of all new, domestically created, final goods and services in an economy.