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3 years ago

Which of the following is not a characteristic of money?

Business

1 answer:

Llana [10]3 years ago

7 0

Answer:

This question is incomplete, here are the missing answers:

a. medium of exchange

b. unit of account

c. backed by a precious metal

d. store of value

The answer is c.

Explanation:

Money has three general functions (characteristics):

- medium of exchange - Mainly created as the substitute of barter, money has the elementary use as an intermediary when exchanging goods or services.

- unit of account - In order to compare the value of certain goods and services, it is essential to measure them. This is where money applies as unit of account.

- store of value - Given that the money is stable (purchasing power and limited inflation), it is a general option for storing value. That means it can always be easily exchanged into goods or services, no matter the time.

According to basic elimination, c. is the correct answer. Also, it is also known that backing money with gold or silver reserves is an old practice which is irrelevant for most currencies nowadays. Today, the government is backing up the value of its currency. Such money is called fiat money.

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The National Security Agency gathers and analyzes meta-data such as numbers, e-mail addresses and locations from cell phones and

Elina [12.6K]

False is the answer

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3 years ago

On March 1, the actual cash received from cash sales was $36,006, and the amount indicated by the cash register total was $36,01

Artyom0805 [142]

Answer:

Journal Entry

Explanation:

The Journal Entry is shown below:-

Cash Dr, $36,006

Cash short and over Dr, $4

($36,010 - $36,006)

To Sales $36,010

(Being cash sales, cash short and over is recorded)

Therefore, to record cash sales, cash short and over we debited cash and cash short and over while credited sales.

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3 years ago

Thomlin Company forecasts that total overhead for the current year will be $11,597,000 with 164,000 total machine hours. Year to

Pepsi [2]

Answer: c.$71 per machine hour

Explanation:

The Pre-determined Overhead rate is the rate Thomlin Company forecasted that the company would incur total overhead for the current year.

They forecasted total overhead of $11,597,000 with 164,000 total machine hours.

Since the rate is based on Machine Hours the rate would be,

= Total Forecasted Overhead / Total Forecasted Machine Hours

= 11,597,000 / 164,000

= 70.71

= $71

4 0

3 years ago

The accounts of Melissa Manufacturing showed the following balances at the beginning of December: Account Debit Raw Materials I

Rudik [331]

Answer:

$115,000

Explanation:

Data provided as per the question is below:-

Beginning balance = $81,000

Direct material issued = $27,000

Direct labor incurred = $7,000

The computation balance Process Inventory is shown below:-

Balance in the Work-in-Process Inventory = Beginning balance + Direct material issued + Direct labor incurred

= $81,000 + $27,000 + $7,000

= $115,000

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3 years ago

Identify which of the following would generate an increase in the market demand for tablet devices, which are a normal good.

seraphim [82]

Answer:

The correct answer is letter "D": An increase in the number of consumers in the market for tablet devices.

Explanation:

Several factors can make the quantity demanded of a product increase. Mainly, when the price of that good or service decreases the quantity demanded increases (demand theory). However, there are some other factors such as the increase of the same product consumers in the market, who will directly ask for the good or service.

6 0

3 years ago