Answer:
True
Explanation:
Contracts should be in writing because this guarantees that all the terms of the agreement are documented and the responsabilities of each party are stated. Also, contracts that involve the sale of goods with a value higher than $500 have to be in writing to be enforceable. So, according to this and considering that the total cost of the lighting is $5,000, it is true that the contract needs to be in writing.
<span>The correct answer is: [D]:
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"assets that a company holds to earn a reasonable return, generally at minimum risk."
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Answer:
the annual rate of return is 15.24%
Explanation:
The computation of the annual rate of return is shown below:
Given that
NPER = 5
PV = -$15,000
PMT = $4,500
FV = $0
The formula is shown below:
= RATE(NPER,PMT,-PV,FV,TYPE)
AFter applying the above formula, the annual rate of return is 15.24%
Answer:
Money as a medium of exchange is more preferable because of its less cumbersome nature.
Explanation:
Money as a medium of exchange is more suitable because of its less cumbersome nature. Money was invented because of the inefficient nature of the barter system.
Money is easily stored compared to a barter system.
Money as a medium of exchange eliminates the barter system's problem of double coincidence of wants. Barter works when you trade things you own for things you want. If for example you want a bicycle and you own a goat, you have to look for someone who wants a goat and owns a bicycle willing to make an exchange, which can be quite difficult.
Money is an acceptable medium of exchange to all parties which makes it more preferable to bartering.
