The money she received from her parents for the purchase of school supplies would be used as a medium of exchange.
<h3>What is money?</h3>
Money is anything that is generally chosen and accepted by a community, as a medium of exchange and standard of value.
Characteristics of money are:
- Medium of exchange
- Store of value
- Measure of value
Hence, the money she received from her parents for the purchase of school supplies would be used as a medium of exchange.
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Explanation:
On the books of Shore Co
Cash A/c Dr $111,560
Sales discount A/c $2,240 ($11,2000 x 2%)
To Accounts receivable A/c $113,800 ($112,000 + $1,800)
(Being cash is received)
On the books of Blue star
Accounts payable A/c Dr $113,800 ($112,000 + $1,800)
To Merchandise inventory A/c $2,240 ($11,2000 x 2%)
To Cash A/c $111,560
(Being cash is paid)
Answer:
see below
Explanation:
Resources are the ( inputs) materials used in the production of goods meant for sale. The cost of inputs has a direct impact on the price of the finished goods(output). An increase in the cost of inputs increases the cost of production. An increase in production cost increases without a corresponding rise in the selling price means that the profits margin per unit will decline.
Suppliers are motivated to sell or deliver more quantities in the market by profit prospects. An increase in the costs of inputs decreases profit margins. Reduced profits margin result in suppliers supplying reduced quantities in the markets.
<u>Answer</u> is D. remain at $30,000.
<u>Explanation:</u>
Rick's Internet Corporation balance in retained earnings = $30,000
Appropriated earning for future business expansion = $15,000
This appropriated earning set for future use will have no effect on the total retained earnings, because for appropriate retained earnings, the entry is to debit the retained earnings account.
Also, it would be board's decision if they want to use the money from the retained earnings or add more capital to it.
Answer:
Differentiate their products
Explanation:
A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopoly has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.
examples of monopolistic competition are restaurants
A monopolistic firm in the food industry acting in their own self-interest, will often include a recyclable symbol on packaging used for their product to Differentiate their products. This is meant to communicate to consumers that they are different from other firms in the industry
