When Two or More Items Are Used in Combination to Produce

question 178

Multiple Choice

When two or more items are used in combination to produce a final product,they are said to have what type of demand?

• A) inelastic
• B) elastic
• C) joint
• D) derived

---

Definitions:

General Journal

A primary accounting record used to record all types of transactions, including adjustments, in chronological order.

General Ledger

A comprehensive collection of a company's accounts, including all transactions and balances, used for preparing financial statements.

Special Journal

A type of accounting journal designed for recording a specific kind of transaction in a more efficient and detailed manner.

General Journal

A comprehensive record of all financial transactions of a company, listed in chronological order.