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The form of currency that is no longer backed by gold is called money. The currency is not backed by gold because in 1971 people have became able to utilize </span><span>banknotes</span><span> as the only form of money. So, the money had no currency with any gold or silver backing and that is the reason why it is not backed.
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Answer:
Explanation:
(a). Audit Procedure (b) . Audit Objective
1.a Take note of trading/order paperwork with the pension (b). Existence of investment/accounts.
2a. Movement of funds within accounts. (b. Examine plan document for investment objectives
3a.make sure that investments agree with plan objectives and allowed risk level (b. Take note of current investment holdings
4a. Make sure that funds are held at updated market fair value(mark to market) (b. Take note of contracts, meeting minutes etc. Confirm that purchases/sales have been approved and falls into plan polices
5a. Extra examination of any significant plan holdings (b. Verify existence and appropriate value . This is important if the plan invest in non-public assets , example is assets are private, equity.
Answer:
The answer is $52,000.
Explanation: When calculating GDP, only finished goods are included in the calculation, items that are used to manufacture other goods are not included in the calculation of GDP.
Therefore, the leather that was bought to produce couches in 2006 will not be included in GDP, because its value is included in the value of couches.
Couches, Inc. produced 16 couches and sold them for $3,000 each, computing that, we have:
16 x $3,000
= $48,000.
However, inventory that Cowhide, Inc. has that is worth $4,000 was produced in 2006 as well, so it is included in the GDP. This item will be included in the GDP because it has not yet been bought to used in manufacturing another item. So the answer is $52,000.
Answer:
demand curves don't reflect consumers' full willingness to pay for a good or service.
Explanation:
The market failure with regard to the demand curve arise at the time when the demand curve does not show the full willingness of the consumer for paying to purchase a good or taking any kind of service
Also the market failure is the situation where the distribution of the goods or services via free market is inefficient.
So the above statement should be considered
Answer: knowledge based
Explanation:
The foundation of trust that Edgar has in this team is referred to as knowledge based.
Since the accounting professionals possess top- notch accounting skills and have never let him down while working on a project together, this is referred to as knowledge based.
Therefore, the correct option is C.