"Representative money<span> is an item such as a token or piece of paper that has no intrinsic value but can be exchanged on demand for a commodity that does have intrinsic value, such as gold, silver, copper, and even tobacco" Google.
</span>C) A check.
Answer:
e. A positive economic statement can be proved; a normative statement cannot.
Explanation:
A positive economic statement are objective statement that can be tested, amended or rejected by referring to available evidence.
this means in essence that a positive economic statement is prone to improvement when proven. it is not rigid
a normative statement is subjective that cannot be changed. it is rigid.
Answer:
Explanation:
Sales revenue to be reported - $1,000,000
Warranty expense - $40,000
Unearned warranty revenue - $12,000
Cash = 1,000,000+12,000 = $1,012,000
Warranty liability - $40,000
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