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3 years ago

When money is used to compare the relative price of a burrito and a taco, money is being used as a

Business

2 answers:

Dafna1 [17]3 years ago

4 0

Answer: B) unit of Account

Explanation:A unit of account in financial accounting refers to the words that are used to describe the specific assets and liabilities that are reported in financial statements rather than the units used to measure them. Unit of account in economics allows a somewhat meaningful interpretation of prices, costs, and profits, so that an entity can monitor its own performance. It allows shareholders to make sense of its past performance and have an idea of its future profitability.

zalisa [80]3 years ago

4 0

Answer:

B) unit of account

Explanation:

The main functions of money are:

Medium of exchange : money is widely accepted and used to exchange goods or services
Unit of account : money serves as a basis to compare the value of goods or services
Store of value : money can be saved since it keeps it value
Standard for deferred payments: you can borrow money and pay it back at a future date

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When making an attribution, dan considers how his roommate has behaved in similar situations in the past. dan is using _______ i

Gekata [30.6K]

When making an attribution, Dan considers how this roommate has behaved in similar situations in the past. Dan is using consistency information.

Information consistency refers to the same thing, being consistent, that even though something may be slightly different the outcome remains the same. In this case, Dan is assuming his roommate will make the same behavior choices as he has previously.

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2 years ago

David paid $975,000 for two beachfront lots in coastal South Carolina, with the intention of building residential homes on each.

Gnoma [55]

Answer:

The correct answer would be, Yes South Carolina would be compensating David as his property is now economically valueless.

Explanation:

Under the taking clause, 'The Beachfront Management Act was properly and validly designed to preserve South Carolina's beaches', which means that no one will be allowed to do any development project near beaches in order to save the beaches.

Though it is already written in the Act, The Beachfront Management Act barred any further development on the coasts of Carolina, which makes the purchased property of David as economically valuless, so South Carolina would be compensating him as the law has passed and they won't allow further development but they need to compensate the people who purchased the property on the beaches for the purpose of future business.

7 0

3 years ago

Competition happens when two or more businesses

g100num [7]

Answer:

fight for the same benefit or gain

Explanation:

For example, if there are two firms in an industry. The goal of the two firms would be to maximise profit. To achieve this, the two firms would engage in various competitions in order to attract customers.

For example, they may differentiate their products or give discounts in order to attract customers and so increase profits

5 0

3 years ago

Kirkland sells season tickets for six events at a price of $48. For the 2013 season, 2,700 season tickets were sold.

alexira [117]

Answer:

a. Assets = Liabilities + Stockholders' Equity = $129,600

b. Debit Unearned ticket revenue for $129,600, and Credit Total revenue for $129,600.

c. It would be classified as an Unearned ticket revenue under the Current Liabilities on the balance sheet.

Explanation:

a. Use the horizontal model to show the effect of the sale of the season tickets. (Enter decreases to account balances with a minus sign.)

Note: See the attached excel file for the horizontal model showing the effect of the sale of the season tickets.

In the attached excel file, the following calculation is done:

Cash = Unearned ticket revenue = Price per season ticket * Number of season tickets sold = $48 * 2,700 = $129,600

Since Stockholders' Equity is equal to zero in the attached excel file, we have:

Assets = Liabilities + Stockholders' Equity = $129,600

b. Use the horizontal model (or write the journal entry) to show the effect of presenting an event.

The journal entry will look as follows:

General Journal Debit ($) Credit ($)

Unearned ticket revenue 129,600

Total revenue 129,600

(To record the effect of presenting an event.)

c. Where on the balance sheet would the account balance representing funds received for performances not yet presented be classified?

It would be classified as an Unearned ticket revenue under the Current Liabilities on the balance sheet.

Download xlsx

4 0

2 years ago

The Public Works department oversees street maintenance and repair. true false

blagie [28]

True Street Maintenance Mission. The Street maintenance Division of the Public Works Department is responsible for keeping all City streets and alleys in good repair and serviceable condition. With the goal of preserving street surfaces to avoid more costly reconstruction, the Street Maintenance Division uses a variety of ...Missing: oversees ‎true ‎false

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3 years ago

Read 2 more answers