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3 years ago

Which of these scenarios involves commodity money?

2 answers:

4 0

Money is a kind of asset in an economy that is castoff to purchase goods and amenities from other people. A commodity is a physical thing that is willingly substitutable with one more item of the same type. Commodity money is a commodity that has intrinsic value. Intrinsic value is the commodity has worth though it is not used as money. So the answer is a woman offers her neighbor a US silver dollar in exchange for a bicycle.

Reptile [31]3 years ago

4 0

A commodity is a physical thing that is willingly substitute with one more item of the same type.

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In 2019, Felicity's business use of her vehicle fell to less than 50%. Regular MACRS depreciation had been used in prior years.

Flauer [41]

Answer:

(d) Straight-line method (SL), the same convention as used in the first year of depreciation, ADS recovery period

Explanation:

The straight line method is the best to use, the convention to be used is the same as what was used in the first year of depreciation and the recovery period in 2019 is the ADS recovery period.

To decrease annual deduction, it is standardized that ADL is used with straight line method with 31 plus years for a recovery period that is longer.

5 0

2 years ago

Assume that Corn Co. sold 7,500 units of Product A and 2,500 units of Product B during the past year. The unit contribution marg

myrzilka [38]

Answer:

Break-even point (units)= 8,464 units

Explanation:

Giving the following information:

Assume that Corn Co. sold 7,500 units of Product A and 2,500 units of Product B during the past year. The unit contribution margins for Products A and B are $33 and $56, respectively. Corn has fixed costs of $328,000.

First, we need to calculate the proportion of sales:

Product A= 7,500/10,000= 0.75

Product B= 2,500/10,000= 0.25

Now, using the following formula, we can determine the break-even point in units:

Break-even point (units)= Total fixed costs / Weighted average contribution margin

Break-even point (units)= 328,000/ (0.75*33 + 0.25*56)

Break-even point (units)= 328,000/38.75

Break-even point (units)= 8,464 units

8 0

3 years ago

When a competitive firm finds that the market price is below its minimum average variable cost level, it will sell:

Novosadov [1.4K]

Answer:

The correct answer is option B.

Explanation:

In the perfect co petition firm is a price taker. Firms do not decide price. Price is determined by demand and supply intersection. Firms face a horizontal demand curve. They can only adjust the quantity they supply.

In a perfect competition, if the price is not able to cover the average variable cost, it means that the firm will be incurring losses. The firm will thus shutdown and stop production.

5 0

3 years ago

Stockton broker Dustin Giles has been asked by super-cautious sellers Frank and Carole Bellacera to find out the comparable sale

Natali [406]

Answer:

Frank and Carol Bellacera are confused

Explanation:

The fact that the couples are super -cautious in nature is getting them confused concerning what they actually wanted as they were trying to be extra careful.

They initially requested for a comparable sales price for their property towards listing, known as comparative market analysis which Dustin Giles provided. However , they went on to change their request to the actual value that a lender can be used to establish a loan which is appraisal .Dustin could have been able to do the appraisal if only he is an independent licensed appraiser practitioner.

Therefore from the scenario ,it is very obvious that Frank and Carole did not really know what they wanted or probably have not made up their mind concerning their decision on the property.

5 0

3 years ago

QUIZLET Kim raises and sells horses as a hobby. She also has income from riding lessons that are part of the hobby activity. Inc

Juli2301 [7.4K]

Answer:

Include all income; deduct no expenses

Explanation:

The Tax Cuts and Jobs Act changed the way hobby expenses and income is taxed. Since 2019, any income generated by a hobby is taxed as ordinary income (not subject to self employment taxes) but any expenses related to your hobbies are not deductible any more. Until 2018, you could deduct hobby expenses as long as they were above 2% of your gross income and they didn't hobby income.

6 0

3 years ago