Answer:
A. This professional serves as a law-enforcement officer, with the authority to arrest employees who do not abide by the ethics code.
Explanation:
Answer:
B
Explanation:
Money as a medium of exchange means money can be used a means of payment. That is, money is used is sorting everyday transactions. Recall that there are three motives of holding money;
1. Transactionary
2. Precautionary
3. Speculative
Transactionary motive means you can use money to sort your everyday transactions.
Precautionary motive - You can save money for rainy days. (i.e. accident, sickness etc)
Speculative motive means you can use money to invest - make investment decisions with money (buy treasury bills, money market fund instruments, currency, etc)
All of the above motives can not be achieved if money does not serve as a means of payment.
Money as a medium of exchange means the legal tender (money) has a government backing.
Answer:
20%
Explanation:
The computation of the discount rate per year is shown below:
As we know that
Discount factor = 1 ÷ (1 + Interest rate)^number of years
0.8333 = 1 ÷ (1 + Interest rate)^1
1 + Interest rate = 1 ÷ 0.8333
Interest rate = 1.20 - 1
Interest rate = 0.20 or 20%
Hence, the interest rate is 20% by applying the discount factor formula which is shown above
