Answer:
b
Explanation:
highly-selective distribution.
Answer:
1. Jake can easily determine that the price of the computer is more than the price of the vacation. ⇒ UNIT OF ACCOUNT
2. Jake has $1,574 in his checking account. ⇒ STORE OF VALUE
3. Jake writes a check for $1,299. ⇒ MEDIUM OF EXCHANGE
Explanation:
The four functions of money are:
- unit of account: since money is a common denominator, it helps to assign value to different goods and services.
- store of value: you can save money in order to purchase gods and services in the future.
- medium of exchange: you can purchase and sell goods and services using. money
- standard of deferred payment: money allows loans that require future payments of both principal and interest.
Answer: a). Debit Factory Payroll Payable $160,000; credit Cash $160,000.
Explanation: Direct labor refers to the manpower used in production. They are the factory workers involved in using the raw materials to produce finished goods.
Expense on direct labor is provided for during the production by a debit to factory payroll expense and a credit to factory payroll payable.
As such, the journal entry will be a debit to factory payroll payable $160,000 and a credit to cash $160,000. This means cash will reduce by $160,000 as the factory workers are paid while payables which is a provision account will reduce as well on the cash book by the same amount.
The definition of commodity is D. Some examples are gold, silver and copper.
