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2 years ago

Which of the following situations represents commodity-backed money? Choose one:

Business

1 answer:

Marta_Voda [28]2 years ago

3 0

Answer: A. Dollars are printed on paper and have value because the government says they have value.

Explanation: Commodity backed money is a situation where by the value of money is backed up by its purchasing power with which it can be traded with at request. The supply of many can not be more than the purchasing power the country holds.

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Galactic Inc. manufactures flying drone toys. Sales units for January, February, March, April and May were 320, 300, 372, 332, a

AVprozaik [17]

Answer:

Direct labor costs= $47,760

total manufacturing overhead= $10,575

Explanation:

Giving the following information:

Production= 315 + 318 + 362= 995 units

Each unit requires 3 direct labor hours.

Hourly rate= $16

Variable overhead per unit= $5

Fixed overhead= $5,600

First, we need to calculate the direct labor hours:

Direct labor hours= 995*3= 2,985

Now, the direct labor costs:

Direct labor costs= $47,760

Finally, the total manufacturing overhead:

total manufacturing overhead= 5,600 + 5*995

total manufacturing overhead= $10,575

8 0

2 years ago

In economics there are positive statements and normative statements. The following is an example of a normative statement: "Stud

NeX [460]

Answer:

The question?

Explanation:

6 0

3 years ago

What makes buying a foreclosed property risk

navik [9.2K]

Answer:

You can not check the property beforehand for damages, which is a risk.

Explanation:

A foreclosure property is that property which is being sold off by a lender in order to payoff default.

There are a number of risks involved in buying such property. The process of buying is lengthy and complicated.

Buyers are not allowed to check the property before auction. Often these properties are damaged because the owners can not afford to manage. Or the angry owners may damage the property purposely in order to punish the lenders.

4 0

3 years ago

Which of the following is TRUE of debt securities? (A) Debt securities include preferred stocks. (B) Debt securities typically p

Bingel [31]

Answer:

The statement which is correct and true is that the debt securities usually pay interest for the fixed period or year. Therefore, the correct option is B.

Explanation:

Debt securities are the securities which refer to a debt instrument like CD (Certificate of deposit, preferred stock, corporate bond and municipal bond, it is sold or bought among the parties.

It is also called as the securities which are fixed income, therefore, the statement which is correct is that these securities pay interest for a fixed period.

6 0

3 years ago

Situation 1: A company offers a one-year warranty for the product that it manufactures. A history of warranty claims has been co

mr_godi [17]

Answer:

Please find the detailed explanation below.

Situation 1 and 2 have disclosure while situation 3 does not require any disclosure.

Explanation:

Situation 1. Accrual. The one-year warranty has created what is known as contingent liability. Contingent liability is a type of liability that is dependent on the outcome of some specific actions which has happened in the past. The eventual liability may or may not happen. But since the probable claim from the one-year warranty has been determined, it should be disclosed. But if the claim cannot be determined, it shouldn't be disclosed.

Situation 2. Since this contract happened before the issuance of financial statement and the amount of loss from this contract can be reasonably estimated or determined, then it must be disclosed and the likely amount must also be disclosed. This disclosure will be under 'note to the financial statement'.

Situation 3. This is a self insurance and self insurance is not an insurance. There is no contingent liability in this situation. Also, there is no accident, no injury. Hence, this is no disclosure here.

4 0

3 years ago