All categories

4 years ago

Which function(s) of money informs the consumer what currency to use to obtain a good or service?

Business

2 answers:

insens350 [35]4 years ago

5 0

Answer:

Unit of Account

Explanation:

inna [77]4 years ago

4 0

The third function explains that money is a medium of exchange. It means that it is better to use the money used in the country itself to gain better service because it would provide better protection. Costumers would be more satisfied if the business would accept the money they have and it would be safer and mutually good for both if the customer would transact using the currency country's currency.

Source: https://www.stlouisfed.org/education/economic-lowdown-podcast-series/episode-9-functions-of-money

You might be interested in

LO 8.5Identify several causes of a favorable material quantity variance.

yan [13]

Answer:

Possible causes of material quantity variance:

1. The use of sub-standard material

2. The use of unskilled labour

3. Wastage of material

Explanation:

Material quantity variance is the difference between standard quantity and actual quantity used multiplied by standard price. The use of sub-standard material reduces the quality of output thereby resulting to unfavorable material quantity variance. The use of unskilled labour also leads to unfavorable material quantity variance. Wastage of material due to low quality of inputs also results to unfavorable material quantity variance.

3 0

4 years ago

A business operated at 100% of capacity during its first month and incurred the following costs: Production costs (18,200 units)

Semmy [17]

Answer:

Option A,$257,732 is correct

Explanation:

The computation of income from operations requires that the operating expenses(variable operating expenses and fixed operating expenses) be deducted in the current period as against charging a portion to closing inventory as it is obtainable under the absorption costing method:

Direct materials $180,100

Direct labor $238,100

Variable factory overhead $261,800

Total prime costs $680,000

Less closing stock(1900*$680,000/18200) ($70,989)

Costs of good sold $609,011

add:operating expenses:

variable operating expenses $126,500

Fixed operating expenses $49,900

Fixed factory overhead $97,900

Total expenses $883,311

income from operations=sales-total expenses

=$1,141,000-$883,311=$257,689

The $257,689 is closest to option A,$257,732 the difference could be due to rounding error

4 0

3 years ago

Vande Velde Company made three investments during 2017. Where will Vande Velde report these investments in the fair value hierar

Debora [2.8K]

Answer:

a. level 3

b.level 1

c. level 2

Explanation:

Vande Velde Company made three investments during 2017. Where will Vande Velde report these investments in the fair value hierarchy?1. It purchased 1,000 shares of Sastre Company, a start-up company. Vande Velde made the investment based on valuation estimates from an internally developed model.2. It purchased 2,000 shares of GE stock, which trades on the NYSE. 3. It invested $10,000 in local development authority bonds. Although these bonds do not trade on an active market, their value closely tracks movements in U.S. Treasury bond.

The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1), and the lowest priority to unobservable inputs (Level 3) while Level 2 assets are financial assets and liabilities that are neither easy or overly complex to value.Going by the explanation the investment will be given hierarchy 3, 2,1

if Van verde purchased shares on the New York stock Exchange , then the percentage in price over time is more than the other two options . In stock purchase, investors can realised more profit on their stocks than bond which can give like 10-15% on the initial cash outlay. The only caveat is that Stocks is a little bit risky and could be volatile owing to price fluctuations ,and the forces of demand and supply.

7 0

3 years ago

If mistakes or fraudulent reporting behavior are discovered, auditors require the company to correct all significant information

stepladder [879]

Answer:

The correct answer is True.

Explanation:

In the context of the audit of financial statements, fraud consists of recording intentional errors in the financial statements. The two main fraud categories are: fraudulent financial reports and asset misappropriation.

Fraudulent financial reports are characterized by containing errors or intentional omissions in the amounts with the intention of deceiving users. Most cases of fraudulent financial reports overestimate assets and income or omit financial liabilities and expenses to show higher income.

6 0

3 years ago

Mrs. Mulcahy, age 65, is concerned that she may not qualify for enrollment in a Medicare prescription drug plan because, althoug

Kazeer [188]

What should you tell her is: She do not have to enroll under Part B before she enroll in a prescription drug plan.

Medicare prescription drug plan is plan that help to cover all prescribed drugs which means that any person under the plan drugs is covered thereby by saving costs.

Based on the scenario every person who is qualified to Part A or who is enrolled under Part B is qualified to register for Medicare prescription drug plan.

Since she is qualified for Part A, she do not need to register or enroll in Part B before been enrolled in a Medicare prescription drug plan.

Inconclusion What should you tell her is: She do not have to enroll under Part B before she enroll in a prescription drug plan.

Learn more here:

brainly.com/question/2484113

4 0

2 years ago