Which of the Following Would Cause Price to Decrease

question 59

Multiple Choice

Which of the following would cause price to decrease?

• A)a decrease in supply
• B)an increase in demand
• C)a surplus of the good
• D)a shortage of the good

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Definitions:

Supplies Expense

An accounting term denoting the cost of consumable items used during a reporting period but not directly associated with goods sold.

Adjusting Entry

A journal entry made in accounting records at the end of an accounting period to allocate income and expenditure to the appropriate years.

Telephone Bill

A periodic charge for the use of telephone services, often including the cost of calls, subscription fees, and taxes.

Accounts Payable

Money owed by a company to its creditors or suppliers for goods and services received but not yet paid for.