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3 years ago

What is true of representative money? Check all that apply

Business

2 answers:

Lesechka [4]3 years ago

8 0

Answer: as per the complete question, theseare the answers.

A. It can be exchanged for a valuable good.

C. It was used in systems involving a "gold standard."

D. It can be traded for a commodity such as silver.

Explanation:

Money is in fact a medium of exchange and it has made trade and exchange of goods and even services more effective, efficient and less time consuming.

Money can be used to purchase valuable goods. This is possible because money can be used to measure the price of a commodity.

Gold standard is a standard way of setting the value of money. You can find more information about this online.

Just as well as exchanging for valuable goods, money can be used to trade commodities such as silver.

In modern times, money are not made of precious metals. Today they are printed by a government which has the authority to issue money and every citizen of that country is obliged to accept such printed notes and coins as valid money.

mixas84 [53]3 years ago

7 0

Complete Question

What is true of representative money? Check all that apply.

A. It can be exchanged for a valuable good.

B. It was once the most common form of money.

C. It was used in systems involving a "gold standard."

D. It can be traded for a commodity such as silver.

E. It is made with precious metals or stones.

Answer to this Question:

A. It can be exchanged for a valuable good.

C. It was used in systems involving a "gold standard."

D. It can be traded for a commodity such as silver.

Yes, it is very much true that money can be exchanged for valuable goods. We can certainly buy goods in return for giving money. Different commodities can be purchased by exchanging it. This is very common method which you can see all around you now-a-days. Money can also be used to buy the gold. It means money's form can be changed in this particular way, the gold then can be traded in the same way as you can use money as we have mentioned in the option A. Money can also be traded directly for a commodity such as sliver or other precious metals as well. Money's main function in all of the valid options here will remain the same; Exchange, used to purchase another commodity by using it in its pure form or trading it indirectly in another form. Whereas it totally different from the Barter trade where people used different commodities as an exchange medium to buy another one.

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A manufacturer reports the following costs to produce 10,000 units in its first year of operations: Direct materials, $10 per un

blagie [28]

Answer:

$28,000

Explanation:

The cost per unit, under absorption costing is given by the total producing cost divided by the number of units produced.

Cost = Units x (Direct materials + Direct labor) + Variable and Fixed overhead

$Cost = 10,000*(\$6+\$10) +\$120,000+\$70,000\\Cost = \$350,000$

The cost per unit is:

$C_u=\frac{\$350,000}{10,000}\\C_u = \$35$

The value of inventory is given by the remaining units in inventory multiplied by the cost per unit

$I=800*\$35\\I=\$28,000$

The value of inventory, under absorption costing, is $28,000.

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2 years ago

Runner's warehouse purchased digital watches for $92.99. its markup rate is 25% based on the selling price. what is the selling

Mkey [24]

Okay. So the warehouse bought the digital way Che's for $92.99 and they're gonna sell it to people for 25% more. So what we do is 92.99 * 125% or 1.25 in decimal form. When we multiply the numbers together, the product is 116.2375 or 116.24 when rounded to the nearest hundredth. The selling price of the digital watches is $116.24.

4 0

3 years ago

Dividends a. are the rates of return on a company’s capital stock. b. are the difference between the price and present value per

faust18 [17]

Answer:

a. are the rates of return on a company's capital stock.

Explanation:

Dividends are are earnings distributed to company's share holders as a result of the shares held by them in the company.

When a company is formed I.e company quoted on the stock exchange, they are usually financed by shareholder's fund.

A share is the unit of capital of a company allocated to an individual while a shareholder is someone who has share(s) in the company. Shareholders are owners of the company. They are also investors and so they expect returns on their investment at the end of each financial period.

These returns are paid to the share holders as dividened which are the rates of returns on a company's capital stock.

7 0

3 years ago

Exercise 4-9 Recording purchases, sales, returns, and shipping LO P1, P2 Following are the merchandising transactions of Dollar

GenaCL600 [577]

Answer:

Dollar Store

Journal Entries:

Nov. 1 Debit Inventory $2,900

Credit Accounts Payable $2,900

To record the purchase of goods on terms of 2/5, n/30, FOB shipping point, invoice dated November 1.

Nov. 5 Debit Accounts Payable $2,900

Credit Cash $2,842

Credit Cash Discount $58

To record the payment for the goods, including discounts.

Nov. 7 Debit Cash $250

Credit Inventory $250

To record the return of goods for cash.

Nov. 10 Debit Freight-in $145

Credit Cash $145

To record payment for transportation of goods.

Nov. 13 Debit Accounts Receivable $3,132

Credit Sales Revenue $3,132

To record the sale of goods with terms n/30.

Debit Cost of goods sold $1,566

Credit Inventory $1,566

To record the cost of goods sold.

Nov. 16 Debit Sales Returns $270

Credit Accounts Receivable $270

To record the return of goods.

Debit Inventory $135

Credit Cost of goods sold $135

To record the cost of goods returned.

Explanation:

a) Data and Analysis:

Nov. 1 Inventory $2,900 Accounts Payable $2,900

on terms of 2/5, n/30, FOB shipping point, invoice dated November 1.

Nov. 5 Accounts Payable $2,900 Cash $2,842 Cash Discount $58

Nov. 7 Cash $250 Inventory $250

Nov. 10 Freight-in $145 Cash $145

Nov. 13 Accounts Receivable $3,132 Sales Revenue $3,132

with terms n/30

Cost of goods sold $1,566 Inventory $1,566

Nov. 16 Sales Returns $270 Accounts Receivable $270

Inventory $135 Cost of goods sold $135

8 0

2 years ago

Expectations of inflation are always greater than actual inflation along the long-run Phillips Curve.

lawyer [7]

Answer:

True.

Explanation:

The statement is “True” because the Philip curve is the curve that exhibits the relationship between the inflation or price level and unemployment. If inflation rises, then unemployment falls. If inflation falls, then unemployment rises. This happens because there is a negative relationship between inflation and unemployment. However in the long run the Philip curve is a verticle line parallel to the inflation axis and that shows there is no trade-off. Thus the option A is correct.

8 0

3 years ago