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bekas [8.4K]
3 years ago
5

Most of the time it is quite difficult to separate the three functions of money. Money performs its three functions at all​ time

s, but sometimes we can stress one in particular. For each of the following​ situations, identify which function of money is emphasized.(a) Brooke accepts money in exchange for performing her daily tasks at her​ office, since she knows she can use that money to buy goods and services.In this​ case, money is being used as a _______.(b) Tim wants to calculate the relative value of oranges and​ apples, and therefore checks the price per pound of each of these goods quoted in currency units.In this​ case, money is being used as a ______.(c) Maria is currently pregnant. She expects her expenditures to increase in the future and decides to increase the balance in her savings account.In this​ case, money is being used as a _______.
Business
1 answer:
PtichkaEL [24]3 years ago
8 0

Answer:

Explanation:

a. Money is being used as a medium of exchange because Brooke is accepting money in exchange for doing her daily tasks at the office. Money facilitates transactions:  Brooke will use some of that money to buy food, if money wouldn´t exist, the company will have to pay her in food, but for the company is difficult to measure how much apples, rice, coffee and other does Brooke´s work represent.

b. Money is being used as a unit of account because it provides a common measure of the value of goods or services, in this case oranges and apples.

c. Money is being used as a store of value. Even though money loses value because of inflation is the most liquid asset a person can have.

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Answer:

1.- Without Retrospective effect

2.- No as it comes from a change in estimations not an accounting error.

3.- yes. It will give a full explanation about the reasons to extend the useful life.

4.- Depreciation expense for 2021: 60,000

Explanation:

1.- The change in the useful life does not represent an accounting error. It comes from the estimation process.

800,000 - 160,000 x 2 = 480,000 book value at beginning 2021

480,000 / 8 new useful life = 60,000 depreciation per year.

5 0
3 years ago
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sasho [114]

Answer:

The correct answer is the option A: True.

Explanation:

To begin with, the contracts inside the law are regulated by the Anglo-America common law that defines a contract as the agreement between two or more parties in which they establish the basis and principles of the agreement and the clauses that could cause to end the contract. Moreover, a contract is also part of the civil law and therefore that it does not implicate the public as a whole in any way due to the fact that in order to be a correct contract the parties must accept the bond between only them and nobody else.  

5 0
3 years ago
Using the fixed-time-period inventory model, and given an average daily demand of 75 units, 10 days between inventory reviews, 2
viva [34]

Answer:

a. 863

Explanation:

Calculation for the order quantity

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Order quantity= 900 + 13.12 - 50

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Therefore the Order quantity will be 863

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3 years ago
Bronn and Jaime make a written contract where Jaime will sell Bronn his armor and sword for $1,200.
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Answer: Mirror image rule

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It should be noted that the contract formation defenses are fraud, illegality, incapacity, unconscionability, duress and statute of Frauds.

The mirror image rule is not among the defense to the formation of w contract. It implies that an offer should be accepted with no changes made to the offer.

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Therefore, the amount $7500 interest expense Kris will deduct as home related interest expense would be $7,500.

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3 years ago
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