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melomori [17]
3 years ago
10

2. Which of the following statements about money are correct?

Business
2 answers:
anyanavicka [17]3 years ago
8 0

Answer:

A.(1) and (2) only

Explanation:

<h3><u>Which of the following statements about money are correct?</u></h3>

(1) With the use of money, double coincidence of wants is not necessary in an exchange.

(2) With the use of money, the cost of looking for trading partners can be lowered.

Wittaler [7]3 years ago
6 0

Answer:

The statements that are correct about money are

(1) With the use of money, double coincidence of wants is not necessary in an exchange.

(2) With the use of money, the cost of looking for trading partners can be lowered.

Option: (A)

Explanation:

The concept of using money having a predefined value emerged from the idea of how convenient it would be to have a common commodity of exchange that could be used in exchange for anything and everything offered for sale. After the barter system eventually came to an end, the process of determining monetary values of commodities of day to day use began and inveterated gradually. As the prevalence of the use of common money grew, the necessity of double coincidence of wants ended soon. People who wanted to exchange wheat for maize no longer had to wait to come across someone who wanted to exchange maize for wheat.

With the introduction of money and an increase in its use, the time and efforts required to find a partner to trade with decreased dramatically. This made transactions more convenient and affordable and more people began to involve themselves in trading activities. The use of money not only dispensed ease of doing business but also helped in establishing faith and reliability among trading partners.

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Aundria's husband passed away in 2017. Since then, she has maintained a home for herself and her son, Brandon (15). If she does
Paul [167]

Answer:

Qualifying widow(er); $24,400.

Explanation:

If she has a dependent child and has not remarried until two years after her husband's death, she can file as Qualifying Widow (Widower) with Dependent Child.

7 0
3 years ago
Dee's has a fixed asset turnover rate of 1.12 and a total asset turnover rate of 0.91. Sam's has a fixed asset turnover rate of
Andreyy89

Answer:

B.utilizing its total assets more efficiently than Sam's

Explanation:

Dee's has a fixed asset turnover rate of 1.12 and a total asset turnover rate of 0.91. Sam's has a fixed asset turnover rate of 1.15 and a total asset turnover rate of 0.88. Both companies have similar operations.

Based on this information, although Sam seems to be utilizing its fixed assets more efficiently, <u>Dee's must be doing utilizing its total assets more efficiently than Sam's</u>

<u>The fixed asset turnover ratio is an efficiency ratio that measures a companies return on their investment in property, plant, and equipment by comparing net sales with fixed assets. In other words, it calculates how efficiently a company is a producing sales with its machines and equipment.</u>

Dee's has a total asset turnover rate of 0.91 compared to a total asset turnover rate of 0.88 by Sam. Hence Dee's efficiency is higher.

5 0
3 years ago
According to the concept of comparative advantage, a good should be produced in that nation where?
snow_lady [41]

According to the concept of comparative advantage, a good should be produced in that nation where its <u>domestic </u><u>opportunity cost</u><u> is the least.</u>

This is further explained below.

<h3>What does the opportunity cost?</h3>

Generally, Opportunity cost, in microeconomics, refers to the value or advantage foregone by doing one action over another.

To put it another way: if you do one thing, you can't do anything other.

In conclusion, Opportunity cost, in microeconomics, refers to the value or advantage foregone by doing one action over another.

To put it another way: if you do one thing, you can't do anything other.

Read more about opportunity cost

brainly.com/question/13036997

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complete question

According to the concept of comparative advantage, a good should be produced in that nation where:

A) its domestic opportunity cost is greatest.

B) money is used as a medium of exchange.

C) its domestic opportunity cost is least.

D) the terms of trade are maximized.

7 0
2 years ago
Western Company is preparing a cash budget for June. The company has $12,000 cash at the beginning of June and anticipates $30,0
topjm [15]

Answer:

$2,500

Explanation:

Opening balance                             $12,000

Cash receipts                                   $30,000

Cash disbursement                        ($34,500)

Closing balance                                $7,500

Minimum cash balance                    $10,000

Borrowing amount(1$0,000-$7,500)     $2,500

To maintain $10,000 cash balance western company need to borrow $2,500($10,000-$7500)

7 0
3 years ago
Prepare the general journal entries for Culver Company for____________.(a) The 2020 adjusting entry.(b) The sale of the Gordon s
-Dominant- [34]

Answer:

a) Debit fair value loss $7,900 Credit Investment $7,900

b) Debit Bank $66,300, Debit Fees $1,200 Credit investment $67,500

c) Debit investment $53,800, Credit Fees $1,300 Credit Bank $52,500

d) Debit Fair value loss $10,400 Credit Investment $10,400

Explanation:

c) the purchase of stock include fees and the fees are included in the cost of the shares and increase the cost of the asset hence they are capitalised on the cost. The fees are an expense directly associated with the purchase therefore are attributable costs.

the completed question

E17-15

(Equity InvestmentsTrading) Culver company has the following securities in its trading port- folio of securities on December 31, 2020.

Investments (Trading)                                                              Cost                                     Fair Value

1,500 shares of Gordon, Inc., Common                     $73,500                                   $ 69,000

5,000 shares of Wallace Corp., Common                  180,000                                   175,000

400 shares of Martin, Inc., Preferred                         60,000                                     61,600

$313,500                                 $305,600                                    

All of the securities were purchased in 2020.

In 2014, Culver completed the following securities transactions.

March 1Sold the 1,500 shares of Gordon, Inc., Common, @ $45 less fees of $1,200

April 1   Bought 700 shares of Earnhart Corp., Common, @ $75 plus fees of $1,300

Culver Companys portfolio of trading securities appeared as follows on December 31, 2021

Investments (Trading)            Cost                             Cost                            Fair Value

5,000 shares of Wallace Corp., Common      $180,000                     $175,000

700 shares of Earnhart Corp. Common         53,800                         $50,400

400 shares of Martin, Inc. Preferred              60,000                         $58,000

                                                                       293,800                       283,400

Instructions

Prepare the general journal entries for Culver Company for:

(a)The 2020 adjusting entry.

(b) The sale of the Gordon stock.

(c)The purchase of the Earnhart stock.

(d) The 2021 adjusting entry for the trading portfolio

3 0
3 years ago
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