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Each day you have $5 for lunch. Today, you decided to save $2 and buy the chicken salad tomorrow for $6.50-<u>In this case the money is being used </u>
<u>to save and store the purchasing power</u>
Explanation:
The term money can be defined as a thing that serves as
- A medium of exchange which is usually financial in nature.
- It is used by the borrower to repay back to the lender-used to repay the debt.
- It is used as an unit of accounting to measure your income and expenditure.
- It is used to store the value of money -in other words used to save the purchasing power of an individual
Thus we can say that ,
Each day you have $5 for lunch. Today, you decided to save $2 and buy the chicken salad tomorrow for $6.50-<u>In this case the money is being used </u>
<u>to save and store the purchasing power</u>
Since the preferred stocks are cumulative in nature, the dividend amount not paid in the current year will be accumulated and paid in the next year.
Preferred dividend to be paid in 2017 = Value of preferred stock x Dividend rate
= (4700 x $50) x 5%
= 11750
Dividend to be paid in 2018 = same as 2017 as no new preferred stock issued
= 11750
Total dividend to be paid in 2018 = Dividend to be paid in 2018 + Dividend to be paid in 2017 – Dividend paid in 2017
= 11750 +11750 -7900
= $15600
True because workplace etiquette is behaving with manners and kindness
