Answer:
<em>earn</em><em> </em><em>.</em><em> </em>
<em> </em><em> </em><em> </em><em> </em><em> </em>
<em>He</em><em> </em><em>is</em><em> </em><em>not</em><em> </em><em>a</em><em> </em><em>skilled </em><em>worker</em><em>.</em><em> </em><em>He</em><em> </em><em>doesn't </em><em>earn</em><em> </em><em>much</em><em>.</em>
The correct statement is that the Native Americans used to exchange furs for manufactured goods. Such practice of goods in exchange for goods is known as barter system. So, the correct option is C.
Barter system is one of the oldest form of trade and exchange system that has been in existence even before the invention of currency for the purpose of exchange.
<h3>Barter System</h3>
- The barter system refers to as a system under which goods and commodities are traded for the exchange of excess goods and commodities.
- The barter system has its own discrepancies and faults as there was no specific medium of exchange and this necessity led to the invention of currency notes and coins.
- The Native Americans were mostly Indians and carried hunting of animals and hence the furs obtained from animals was in excess with them and as a result, it was exchanged for finished goods.
Hence, the correct option is C that the Native Americans used furs for the exchange of manufactured goods during the days of barter exchange system.
Learn more about barter system here:
brainly.com/question/1888121
Answer:
The correct answer is option d.
Explanation:
The firms are expected to maximize profits, the laborers are expected to accept the best offer and the rational consumer is expected to choose the bundle of good that maximizes utility.
Firms will produce the output level where their profits are maximized. The consumer will consume at the level where their total utility is maximized and the laborer will accept the best offer to maximize his benefit.
Answer:
False.
Explanation:
Patent can be defined as the exclusive or sole right granted to an inventor by a sovereign authority such as a government, which enables him or her to manufacture, use, or sell an invention for a specific period of time.
Generally, patents are used on innovation for products that are manufactured through the application of various technologies.
Basically, the three (3) main ways to protect an intellectual property is to employ the use of trademarks, copyright and patents.
In this scenario, Because your patented Gidgit is starting to gain attention and investors are starting to show interest, the executive committee is considering becoming a publicly held company.
Since Gidgit is patented it cannot be sold to the government because it is a registered intellectual property that cannot be used or sold without the approval or consent of the owner.
Answer:
If Splendid Occasions had recorded their service revenue using the other method, how much service revenue would they have recorded for the year?
Ans: $2,970
The ''other method'' in question is the Cash method which recognizes revenue when cash is paid unlike the Accrual method that recognizes it when earned.
Using the Cash method the Service Revenue would be $2,970 because the cash has been received for it.
If Sweet Catering had recorded transactions using the Cash method, how much net income (loss) would they have recorded for the month of May?
= Cash revenues - Cash expense
= Received cash for meals served to customers - Prepaid rent for three months - Received and paid electricity bill
= 2,530 - 2400 - 60
= $70
If Sweet Catering had recorded transactions using the Accrual method, how much net income (loss) would they have recorded for the month of May?
= Revenue - Expense
= Served a banquet on account + Received cash for meals served to customers - Rent - Electricity - Accrued salary expense - depreciation
= 2,810 + 2,530 - (2,400/3) - 60 - 2,670 - 380
= $1,430
<em>Cash spent on Equipment is not expense but capital expenditure. </em>
