If the Cost of the Market Basket in the Base

question 32

Multiple Choice

If the cost of the market basket in the base year is $2,000 and in 2014 it is $2,100, the price index for 2014 is:

• A)2,100.
• B)105.
• C)100.
• D)95.

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Definitions:

Ownership and Control

The legal rights to possess, use, and manage assets or property, and the ability to direct the operations and activities of an entity or resource.

Limited Liability

A legal structure that limits the financial liability of investors or owners to the amount they have invested in a company, protecting personal assets.

Transferability of Ownership

The capability to legally transfer the title or ownership of an asset or property from one entity to another.

Sole Proprietorship

A business structure in which a single individual owns and operates the business, bearing sole responsibility for its debts and obligations.