The Rules of the Game Refer to

question 22

Multiple Choice

The rules of the game refer to

• A)any factor that facilitates production and exchange,such as tax laws and property rights
• B)a gradual but consistent change in the price level until a fair price is attained
• C)the set of election laws that ensure that all elections are fair
• D)the requirements placed on firms in earning a profit
• E)the requirements that households must supply labor to firms

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Definitions:

Counter Check

A special bank check that allows a depositor to draw funds from his own account only, as when he has forgotten his checkbook.

Imprinted Checks

Checks that have been pre-printed with specific information, such as the payer's name and account details, to enhance security and reduce fraud.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account column totals that are equal.

Uncollectable Account

A debt or receivable that is considered to be uncollectible from a debtor, often because it is overdue or the debtor is unable to pay.