If the Price Level This Year Was 140 and Was

question 172

Short Answer

If the price level this year was 140 and was 135 last year, what was the inflation rate to the nearest decimal?

---

Definitions:

Managerial Accounting

This branch of accounting focuses on providing information to managers within an organization to aid in decision-making and financial management.

Entity

In accounting and finance, an entity refers to any organization, company, or individual that has a distinct existence for legal or tax purposes.

Highly Aggregated

A term describing data that has been compiled into large groups or categories, often to provide a broad overview.

Managerial Accounting

The process of identifying, measuring, analyzing, interpreting, and communicating financial information to managers for pursuing an organization's goals.