Figure 8-11 -Refer to Figure 8-11.Neither a Shift of the Demand Curve

question 104

Multiple Choice

Figure 8-11
-Refer to Figure 8-11.Neither a shift of the demand curve nor a shift of the supply curve is shown on the figure.However,we know that,when the tax is imposed,

• A)the demand curve will shift.
• B)the supply curve will shift.
• C)either the demand curve or the supply curve will shift.
• D)None of the above are correct;the tax causes neither the demand curve nor the supply curve to shift.

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Definitions:

Aging of Accounts Receivable

A method used to categorize the amounts owed by customers based on the length of time an invoice has been outstanding.

Reports Center

The Reports Center is a feature in accounting software that aggregates all financial reports, providing an overview of an entity’s financial health.

Undeposited Funds

An account used in accounting to temporarily hold receipts and cash sales until they can be deposited in the bank, facilitating easier tracking of cash flow.

Partial Payments

Payments made towards a debt or invoice that are less than the total amount due at the time.