All categories

3 years ago

Dollar bills in the modern economy serve as money because

Business

1 answer:

nikitadnepr [17]3 years ago

8 0

Answer:

The reason for this is that the people will accept it as money confidently.

Explanation:

Since the definition of money explains that money can be anything that is accepted by the people and serve as the medium of exchange. However, in the case of a dollar bill, people have accepted it as a medium of exchange.

You might be interested in

Colleen sold a house to Ben for $300,000. Before selling the House, Colleen forgot to tell Ben about a leaky faucet in a little-

arlik [135]

Answer: Because Y's failure to notice the leaky faucet means that he did not justifiably rely on X's "misstatement."

Explanation: Ben may be unable to rescind on the basis that, upon the sale of the property, the leaky faucet is as not intentionally hidden from Ben's notice. If during the property inspection, the leaky faucet was noticed by Ben, and Colleen gave a false statement about the faucet in other to conceal the impairment, then Colleen would have been deemed to have made Ben rely on a false statement and thus making a rescind by Ben would have been possible.

4 0

3 years ago

Barbara Crusher is a licensed CPA. During the first month of operations of her business (a sole proprietorship), the following e

Amanda [17]

Solution :

Date Account Debit($) Credit($)

April 2 Cash 27,330

Equipment 14,650

Capital 41,980

April 2 No journal is required on hiring employee

April 3 Supplies 338

Accounts payable 338

April 7 Rent expense 590

Cash 590

April 11 Accounts receivable 929

Service revenue 929

April 12 Cash 3021

Unearned service revenue 3021

April 17 Cash 2535

Service revenue 2535

April 21 Insurance expense 101

Cash 101

April 30 Salary expense 1352

Cash 1352

April 30 Supplies expense 138

Cash 138

April 30 Computer 5841

Capital 5841

3 0

3 years ago

Novak corp. sells a snowboard, ezslide, that is popular with snowboard enthusiasts. below is information relating to novak corp.

Rom4ik [11]

Answer:

a. The value of ending Inventory using FIFO is $2749.

b. The value of ending Inventory using LIFO is $2667.

c. The value of ending Inventory using Average Cost method is $2713.

We have:

Date Explanation Units unit cost Total Cost

Sep-01 inv 11 97 1067

Sep-12 purchases 44 100 4400

Sep-19 purchases 47 101 4747

Sep-26 purchases 22 102 2244

Total 124 12458

Novak sold 97 snowboards, so the number of snowboards with it at the end of September is $124 -97 = 27 units$ .

If Novak adopts First In First Out (FIFO) method, and 27 units are remaining, all 22 units purchased on Sept-26th and $27 -22 = 5 units$ from the purchases made on Sept-19th will remain in inventory.

So the value of inventory using FIFO will be $(22* 102) + (5*101) = 2749$

If Novak adopts Last In First Out (LIFO) method, all 11 units in inventory on Sept-01st and $27 -11 = 16 units$ from the purchases made on Sept-12th will remain in inventory.

Hence inventory value using LIFO will be $(11* 97) + (16*100) = 2667$

We calculate the Average cost by dividing the Total Cost by total number of units purchased.

$Average Cost = \frac{12458}{124} = 100.468$

The value of inventory using the average cost method is $100.648 * 27 =2713$ .

3 0

3 years ago

Read 2 more answers

Burger Store is located near many large office buildings, so at lunch it is extremely busy. Burger Store management previously p

lawyer [7]

Answer:

The cost of those meals should be tax-free to employees

Explanation:

The lateness of employees to their respective duties after lunch obviously affected business, negatively. This negative impacts of lateness were solved by lunch planning.

For convenience sake of the employer, employer paid meals were furnished within the business environment. Because employees were late from lunch, employer arranged free meals in order for employees to be on time from lunch.

As long as lateness has been reduced then their meals should be tax free.

7 0

3 years ago

ANSWER PLS

Nataliya [291]

Answer:

see below

Explanation:

Equity financing involves selling shares to investors. The entrepreneurs surrender part ownership to third parties. It means profits have to be shared, and there have to consultations in every major decision.

Debt financing involves borrowing from lenders. It has a big advantage in that the entrepreneur maintains full control of the business. They do not have to share profits with other people or risk being kicked out of the business. However, debts have to be paid. The monthly repayment for several years can have hamper progress. It reduces profits, making a business seem less valuable.

A business should balance between equity and debt financing. As much as possible, equity financing should have a bigger proposition of capital to be profitable and increase in worth.

6 0

3 years ago