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3 years ago

One fact about all currency is that it

Business

2 answers:

sleet_krkn [62]3 years ago

8 0

Answer:

One of the main reasons why different countries have different currencies is to allow people the possibility to choose the origin of the currency and the goods they want. Imagine if every country in the world would use only dollars. Then every country would be able to print dollars, but the dollars would be same for the US or for Burma or the Congo. Do goods available or produced at the US, Burma and Congo have the same value for everyone?

The US dollar is the most widely accepted currency in the world but the Euro is the most commonly used currency.

Deffense [45]3 years ago

5 0

Answer:

Differs amounts between different countries

Explanation:

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Presented below are three revenue recognition situations. (a) Groupo sells goods to MTN for $901,000, payment due at delivery. (

LekaFEV [45]

Answer:

Groupo

Transaction Price When Revenue should be recognized

a. $901,000 the delivery date

b. $879,000 the sales date

c. $443,000 the sales date

c. $37,000 in the period interest is earned.

Explanation:

1) Data and Analysis:

a. Delivery date: Cash $901,000 Sales Revenue (MTN) $901,000

b. Sales date: Accounts receivable (Grifols) $879,000 Sales Revenue $879,000

c. Sales date: Accounts receivable (Magnus) $480,000 Sales Revenue $443,000 Deferred Interest Revenue $37,000

2) According to the IFRS 15 and ASC 606, Revenue from Contracts with Customers, revenue should be recognized when performance obligations have been met.

8 0

3 years ago

A measure such as direct labor-hours or machine hours used to assign overhead costs to products and services is called a cost dr

MrRissso [65]

A measure such as direct labor-hours or machine hours used to assign overhead costs to products and services is called a cost driver or an allocation base.

An entity allocates its overhead costs on the basis of an allocation base. An allocation basis is a measurement, such as the amount of square footage occupied, kilowatt hours consumed, or machine hours used.

Cost accounting assigns overhead expenses using an allocation base. An allocation base can be a quantity, such as the amount of machine hours used, kWh spent, or occupied square footage.

Learn more about allocation base here

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3 0

2 years ago

If the price index has a value of 122 then the inflation rate during the past year was 22%. True or False

Lyrx [107]

If I am correct it is true

8 0

3 years ago

Peggy offers to sell Shelby a purebred Scottish terrier puppy for $800. Shelby and Peggy do not discuss the dog's ancestry, but

ladessa [460]

Answer:

a. No, because Shelby made a mistake about the dog's value, not a mistake about a material fact.

Explanation:

Peggy made an offer to sell the dog for $800, they didn't discuss the dog's ancestry and Shelby wrongly assumed the dog was from champion lines and agreed to buy the dog for $800.

Based on further investigations, she discovered the dog was worth just $200.

She cannot rescind the contract because she wrongly assumed the dog's value not an error about à material fact. Peggy sold the dog at her own rates and Shelby bought the dog while wrongly assuming the value, so she cannot cancel the contract based on that.

6 0

3 years ago

What should the body of a cover letter include

Sedaia [141]

Answer:

(1) Specific information on why you want that job

(2) Your knowledge on that position

(3) Describe what you have to offer to the employer

(4) Your qualifications

(5) The position you're applying for

8 0

3 years ago