Supply-Restricting Policies Are Intended to Shift the

question 119

Multiple Choice

Supply-restricting policies are intended to shift the

• A)supply curve to the left.
• B)supply curve to the right.
• C)demand curve to the left.
• D)demand curve to the right.
• E)b and d

---

Definitions:

Periodic Inventory System

An accounting method where inventory levels and cost of goods sold are updated at specific intervals, rather than continuously.

Transactions

Financial events or exchanges between parties that have a monetary impact on the financial statements of a business.

Adjusted Trial Balance

A list of all accounts and their balances after adjustments are made, used to prepare financial statements.

Year-End Closing Entries

Journal entries made at the end of an accounting period to prepare the accounts for the next period by clearing out revenues and expenses to the income summary.