Answer: Is an example of money functioning as a UNIT OF ACCOUNT.
Explanation: Money is defined as an item of value between two or more parties used for the exchange of goods or services. It's various functions are; store of value, a unit of account, a medium of exchange.
Money as a unit of account is a measurement of value/cost of goods, services, or assets.
It allows a fair exchange between labor and being rewarded. Which is also very ethical.
Answer:
Letter C is correct. <u>Just in time management.</u>
Explanation:
The just in time management system corresponds to a system whose focus is the elimination of waste in organizational processes, so its fundamental principle is lean production according to demand, so that there is greater speed and there is no stock formation and so that the product reaches the consumer in the right place at the right time.
This management system is very advantageous because it promotes the continuous improvement of organizational processes, in addition to reducing losses resulting from waste, which generates several benefits for a company, such as increasing the speed of the production process and reducing inventory costs, which generates a positive consequence in the entire production chain.
Answer:
1. Accounts receivable
2. Notes receivable
3. Other receivable
Explanation:
Sold merchandise on account for $64,000 to a customer - Accounts receivable. Since the merchandise is sold on credit to a customer, the same is recorded in the current assets of the balance sheet as accounts receivable.
Received a promissory note of $57,000 for services performed - Notes receivable. Since the promissory note is received for service performed which we term as a note receivable. This also come under the current assets of the balance sheet
Advanced $10,000 to an employee - Other receivables - As an advance is given to an employee neither is an account receivable nor it notes receivable. So, it is term as an other receivable