-Based on the Data in the Table Above,ice Cream and Cake

question 220

Multiple Choice

-Based on the data in the table above,ice cream and cake are ________ goods.

• A) inferior
• B) normal
• C) substitute
• D) complementary
• E) Both answers B and D are correct.

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Definitions:

Noncumulative

A term often used to describe preferred stocks or dividends that do not accumulate if they are unpaid or not declared.

Nonparticipating

Describing a type of insurance policy or preferred stock where the holder is not entitled to share in the company's profits beyond a specified amount.

Journal Entries

Entries made in the accounting records to document financial transactions, updating account balances accordingly.

Noncumulative

A term often referring to certain preferred stock dividends that do not accumulate if unpaid, meaning if a dividend is skipped, it is not owed in the future.