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notka56 [123]
3 years ago
13

Commodity money is the best, safest kind of money. Select one: True False

Business
1 answer:
ladessa [460]3 years ago
3 0
I would say true. Bcus it is made from silver
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Identify the three components of retained earnings.
Hoochie [10]
The beginning period retained earnings, net profit/net loss made during the accounting period, and cash and stock dividends paid during the accounting period. (i may be wrong because there was no picture but i this is right)
5 0
2 years ago
Aunt Mabel promised to give you $9000 when you successfully complete your freshman year, $6000 when you successfully complete yo
Blababa [14]

Solution :

At every stage the formula used will be :

$\frac{\text{available balance}}{(1+\text{interest rate})}= \text{required bank balance}$

After the junior year, Aunt Mabel's bank balance will be :

$=\frac{8000}{1.0925}$

= $ 7,322.65

Aunt Mabel's bank balance after sophomore year will be :

7,322.65 + 1000 = $ 8,322.65

$=\frac{8,322.65}{1.0325} $

= $ 8060.677

After the freshman year, bank balance of Aunt Mable's will be :

8060.677 + 6000 = $ 14,060.677

$=\frac{14,060.677}{1.0250} $

= $ 14.0606

If Aunt Mabel can predict the interest rate with accuracy, she will have to deposit :

$ 14.0606 + $ 9000 = $ 9,014.06

$=\frac{9014.06}{1.0525}$

= $ 8,565.241

4 0
3 years ago
Assuming purchase costs are rising, determine which of the statements below are correct regarding the cost of goods sold under F
anzhelika [568]

Answer:

A

B

C

D

Explanation:

LIFO means last in first out. It means that it is the last purchased inventory that is the first to be sold.

FIFO means first in, first out. It means that it is the first purchased inventory that is the first to be sold

Weighted average cost method calculates the cost of goods sold as the weighted average of cost of inventory

In periods of rising prices, later purchased goods would have a higher price. As a result, LIFO would report a lower net income while companies using FIFO would report the highest gross profit and net income.

Because of the high net income reported under FIFO, tax paid would be the highest too

6 0
3 years ago
Which of the following is an example of an unsought good? A. Cameron purchases a new bike. B. Jordan buys paper towels. C. Taylo
NikAS [45]

Answer:

D. Riley buys new windshield wipers for her car.

Explanation:

By definition unsought goods are those which are not purchased out of want or desire, but the purchases of which arise due to any of the following circumstances:

  • danger - for example a fire extinguishers sought in the incident of a fire
  • fear - for example the fear of crashing into another car (in this case)
  • unexpected events - for example funeral services sought at the time of death

4 0
3 years ago
Trendy Coats is looking at financials to prepare end of year reports. Actual hours used were 4,000. Standard hours allowed were
prohojiy [21]

Answer

a) $15

Explanation:

We will use the formula for Total labor variance to arrive at Standard rate.

Total labor variance = (Actual hours × Actual rate) - (Standard hours × Standard rate)

Substituting the data above into the formula, we'll have;

-$23,000 = (4,000 × $13) - (5,000 × SR)

-$23,000 = $52,000 - 5,000SR

Collect like terms

5,000SR = $52,000 + $23,000

5,000SR = $75,000

SR = $75,000 / 5,000

SR = $15

7 0
3 years ago
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