When Some Dollar Amount Is Automatically Corrected for Inflation by Law

question 151

True/False

When some dollar amount is automatically corrected for inflation by law or contract, the amount is said to be indexed for inflation.

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Definitions:

Corporation

A legal entity that is separate from its owners, providing them limited liability, and has the ability to raise capital through the sale of shares.

Service Business

A type of business that provides intangible products, such as time, expertise, or activities, where physical goods are not transferred to the customer.

Pet Groomer

A professional who cleans, trims, and styles pets' coats, nails, and fur to maintain their appearance and hygiene.

Lawn Care

The maintenance and management of gardens, yards, or other grassy areas to ensure healthy growth and aesthetic appeal.