Answer:
Option (B) is correct.
Explanation:
Unit of account:
There are some functions of money or we can say that characterstics of money:
(a) Medium of exchange
(b) Store of value
(c) Unit of account
(d) Standard of deferred payments
Sea shells are precious items but one cannot properly split divide those sea shells into small denominations like money does. Money is easily storable, people use as a medium of exchange and unit of account.
By unit of account we mean that we can easily measure the value of goods and service and many things in monetary terms but we cannot measure in terms of sea shells.
That's why sea shells unfit to act as money today.
Answer:
Compound interest will lead to a larger sum of money than a comparable simple interest payment.
Explanation:
The true statement is that compound interest will lead to a larger sum of money than a comparable simple interest payment because the interest are compounded for a certain number of times such as daily, weekly, quarterly or annually while simple interest isn't compounded at all.
To find the future value, we use the compound interest formula;
Where;
A is the future value.
P is the principal or starting amount.
r is annual interest rate.
n is the number of times the interest is compounded in a year.
t is the number of years for the compound interest.
Mathematically, simple interest is calculated using this formula;
Where;
S.I is simple interest.
P is the principal.
R is the interest rate.
T is the time.
Answer:
The correct answer is letter "B": import restrictions will lower prices in the protected industries.
Explanation:
Import restrictions apply to specific tariff and non-tariff barriers levied by an importing nation to regulate the number of goods coming from other countries. This situation boosts domestic consumption in certain industries but the demand for those goods increases in quantity which causes the price of those products to drop.
Answer:
The correct answer is $165 ( Million).
Explanation:
According to the scenario, the given data are as follows:
Pretax accounting income = $200 (Million)
Overweight fines = $5 (Million)
Understated depreciation = $110 - $70 = $40 (million)
So, we can calculate the taxable income by using following formula:
Taxable income = Pretax accounting income + Overweight fines - Understated depreciation
By putting the value, we get
Taxable income = $200 + $5 - $40
= $165 (Million)
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