<span>barter
The barter market involves people directly trading goods and services for other goods and services. In this system haggling is customary.</span>
Answer: a. True
Explanation:
Note that this system doesn't take into account the time value of money. Some analyst prefers its simplicity.
Answer:
increase total assets by $1,300.
Explanation:
The net effect is shown below
The first entry is
Cost of goods sold Dr $2,300
To Merchandise Inventory $2,300
(Being the cost of inventory is recorded)
Now the second entry is
Account receivable Dr 3,600
To Sales revenue 3,600
(Being the sales is recorded)
Now the net effect is
= 3,600 - 2,300
= 1,300
This 1,300 reflect the increase in the total assets
Answer:
b. $25,716
Explanation:
The total cost recovery Deduction is:
10-year property
MACRS cost recovery ($200,000×0.10) $20,000
7-year property
MACRS cost recovery ($40,000×0.1429) $5,716
Total cost recovery $25,716
Therefore, The total deductions in calculating taxable income related to the machines for 2017 is $25,716.
The U.S. fiduciary monetary system is one where money is not convertible to a valuable commodity such as gold.
Option a
<u>Explanation:
</u>
In fiduciary monetary system, the money is issued by the government and the value of the money depends uniquely on faith of the public that the currency represents command over services and goods. The word fiducia is from Latin and it means trust or confidence.
Fiduciary money includes demand deposits of banks namely checking accounts. Fiduciary money is accepted depending on the trust its issuer commands.
The fiduciary currency is supplied in the economy by Fed. Fiduciary money can be classified into two categories namely,
- Paper money - Includes all the banknotes
- Divisional currency - Includes all the coins
