Answer:
$960,000
Explanation:
The balance in equity investment made by Cleaverland in Omaha as at December 31, 2020 shall be determined using the following method:
Purchased price of Cleaverland as at January 1, 2019 $650,000
Net income for the year 2019 $150,000
Net income for the year 2020 $190,000
Less: Dividend paid by Omaha to Cleaverland ($30,000)
Balance as at December 31, 2020 $960,000
Answer:
I. The three (3) main functions of money in an economy are;
a. Medium of exchange.
b. Unit of account.
c. Store of value.
II. Liquidity is a characteristic of money.
Explanation:
In economics or financial accounting, money can be defined as any asset used by an individual or business entity to make purchases of goods and services at a specific period of time.
Simply stated, money refers to any asset which can be used to purchase goods and services by customers.
This ultimately implies that, money is any recognized economic unit that is generally accepted as a medium of exchange for goods and services, as well as repayment of debts such as loans, taxes across the world.
I. The three (3) main functions of money all over the world are;
a. Medium of exchange.
b. Unit of account.
c. Store of value.
II. The rate at which an asset can be used to purchase any goods or services refers to its liquidity. Thus, liquidity is a quality or characteristics of money as a medium of exchange.
In conclusion, money is a generally accepted medium of exchange around the world and money being a store of value makes it possible to transfer purchasing power between traders and buyers from the present to the future.
<span>According
to Sheryl Connelly, It takes three years to bring a new vehicle to market,
requiring the company to anticipate customers' needs. this is one of the
reasons for the high failure rate of innovation, known as: Positioning Strategy,
where it helps establish your product's or service's identity
within the eyes of the purchaser/customer.</span>
The school need to increase its tuition fee in order to increase its profitability despite having a full class already.
<h3>What is a
profitability?</h3>
This refers to the measurement of an organization's profit in relation to its expenses.
Despite that this capacity of 100 seats are filled for the term, the school can decide to increase its tuition fee in order to increase its profitability for the school session.
Read more about profitability
<em>brainly.com/question/1078746</em>
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