Which of the Following Would Likely Increase Private Saving

question 30

Multiple Choice

Which of the following would likely increase private saving?

• A)Both expansion of IRA type accounts and a consumption tax.
• B)Expansion of IRA type accounts,but not a consumption tax.
• C)A consumption tax,but not expansion of IRA type accounts.
• D)Neither expansion of IRA type accounts nor a consumption tax.

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Definitions:

Special Journal

A specialized accounting journal designed to record a specific type of transaction consistently, such as sales or purchases.

Electronic Accounting System

Computerized systems used for tracking and managing financial transactions and accounts.

General Ledger Accounting Systems

Comprehensive accounting systems that collect, classify, and summarize financial transactions to create financial statements.

Cash Receipts

The collection of money (cash, checks, wire transfers) by a business during a given period, often recorded in the cash receipts journal.