Who is affected by our government’s fiscal policies?

7. Identifying costs of inflation Bob manages a grocery store in a country experiencing a high rate of inflation. He is paid in

stiks02 [169]

Answer:

Shoe-leather Costs.

Explanation:

In this scenario, Bob manages a grocery store in a country experiencing a high rate of inflation. He is paid in cash twice per month. On payday, he immediately goes out and buys all the goods he will need over the next two weeks in order to prevent the money in his wallet from losing value.

What he can't spend, he converts into a more stable foreign currency for a steep fee. This is an example of the Shoes-leather costs of inflation.

A Shoe-leather costs refers to the costs of time, energy and effort people expend to mitigate the effect of high inflation on the depreciative purchasing power of money by frequently visiting depository financial institutions in order to minimize inflation tax they pay on holding cash.

Metaphorically, it ultimately implies that in order to protect the value of money or assets, some people wear out the sole of their shoes by going to financial institutions more frequently to make deposits.

Hence, Bob is practicing a shoe-leather cost of inflation so as to reduce the nominal interest rates.

5 0

4 years ago

The listing agent received a full price offer that she faxed to the out-of-town seller. The seller signed the faxed copy, and fa

ExtremeBDS [4]

Answer: Yes contract has been formed.

Explanation: According to the Uniform Electronic Transaction Act (UETA), electronic transactions are just as binding as transactions made on hardcopy documents. Moreover signatures made electronically reinforces the validity of these elctronic documents.

In the scenario the actual signature was signed on a hard copy by the seller, but it was then faxed back to the listing agent. This faxed copy, showing the faxed signature, is an electronic document that confirms the existence of the contract in accordance with the UETA. This faxed signature is as enforceable as an ink signature.

6 0

3 years ago

Sheffield Company purchases $50,300 of raw materials on account, and it incurs $63,900 of factory labor costs. Supporting record

Yakvenalex [24]

Answer:

Work-in-process - Assembly Department $64,160 (debit)

Work-in-process - Finishing Department $38,080 (debit)

Overhead $102,240 (credit)

Explanation:

Assembly Department Costs Assignments

J1 : Raw Materials

Work -in-process $27,100 (debit)

Raw Materials (credit)

J2 : Labor

Work -in-process $40,100 (debit)

Salaries and Wages Payable $40,100 (credit)

J3 : Overheads

Work-in-process $64,160 (debit)

Overhead $64,160 (credit)

Finishing Department Costs Assignments

J1 : Raw Materials

Work -in-process $23,200 (debit)

Raw Materials $23,200 (credit)

J2 : Labor

Work -in-process $23,800 (debit)

Salaries and Wages Payable $23,800 (credit)

J3 : Overheads

Work-in-process $38,080 (debit)

Overhead $38,080 (credit)

Summary of assignment of overhead

Work-in-process - Assembly Department $64,160 (debit)

Work-in-process - Finishing Department $38,080 (debit)

Overhead $102,240 (credit)

3 0

3 years ago

question 1 you are presenting your theory about the correlation between recent sales increases and a current pop culture trend.

Sveta_85 [38]

The opening or introduction of your presentation is the ideal time to introduce the hypothesis. The tentative solutions are important about the presentation.

<h3 /><h3>What is a hypothesis?</h3>

A hypothesis is a theory that is put up as a potential explanation for a certain circumstance or condition but has not yet been shown to be true. Scientists can design a straightforward laboratory experiment to verify this theory.

In the context of science, a hypothesis is an assertion based on current knowledge that is appropriate for describing a particular phenomenon but whose validity has not been established or has not been independently tested.

Typically, the researcher's hypothesis is referred to as the alternative hypothesis, and any other result is referred to as the null hypothesis, or, more simply put, the opposite result from what was predicted.

Learn more about hypothesis, here

brainly.com/question/29519577

#SPJ1

7 0

1 year ago

Crane Sales Company uses the retail inventory method to value its merchandise inventory. The following information is available

Marysya12 [62]

Answer:

C. $222,500 ÷ $313,500

Explanation:

Calculation for cost to retail ratio

COST

Beginning inventory $30,000

Add; Purchases $190,000

Add: Freight in $2,500

Cost $222,500

RETAIL

Beginning inventory $45,000

Add: Purchases $260,000

Add: Net mark ups $8,500

Retail $313,500

Therefore, the cost to retail ratio will be

$222,500 $313,500

5 0

3 years ago