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maw [93]
3 years ago
15

The development of money as a medium of exchange has facilitated the expansion of trade because

Business
1 answer:
kap26 [50]3 years ago
4 0
<span>Money is more easily portable than other things, even gold and silver. Bringing animals or salt to barter takes up a lot of space, whereas money just takes up the amount of space that a piece of paper does. Money is better than bartering for the facilitation of long distance trade for this reason.</span>
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IgorLugansk [536]

Answer:

Based on the attached,there is a strong indication that the question requires the student to prepare the current assets section of the balance sheet in the order of liquidity.

Current Assets                        $                                  $

Cash                                                                     32000

Accounts receivable           299300

Allowance for receivables   (8680)  

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Prepaid insurance                                               9680

Inventory                                                             299300

Total current assets                                           631600

             

Explanation:

The order of liquidity is that cash comes first,as it is readily available for use in discharging obligations and need not be converted to any other form.

Accounts receivable takes the second position as it is just a step away to becoming cash

Lastly, inventory is the most difficult to convert to cash as it envisaged that it would first of all turn to accounts receivable and thereafter to cash

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