After people deposit money in their checking account at a bank what does the bank do with most of this money?

The nation of Newbie is establishing its monetary system and is designing its currency. The first proposal is to issue the Newbi

aliya0001 [1]

Answer:

The answer is yes, it will function as a medium of exchange.

Explanation:

Money has three functions, store of value, unit of account and medium of exchange. Money that can be used as a medium of exchange is money that is accepted as such by both buyers and sellers, and that is comfortable, or convenient enough, to be carried and exchanged

In this example, the nation of Newbie will issue a currency that can be easily transported. While heavy stock cardboard is a little bit heavier than the paper in which most modern-day currencies are printed, the weight is still light, and does not impede easy transportation and exchange of the currency bills.

Besides, the new Newbie Nugget will be what is know was the legal tender of the nation. The legal tender is the currency that a specific country accepts to collect taxes. This gives more legitimacy to Newbie Nugget and makes it a classical example of a medium of exchange.

3 0

3 years ago

Big Tommy Corporation is a local grocery store organized seven years ago as a corporation. The bookkeeper prepared the following

Natali [406]

Answer:

Big Tommy Corporation

Profit and Loss for the year ended December 31

Sales 404,000

Cost of Goods Sold 279,000

Gross Profit 125,000

<em>Operating Expenses:</em>

Salaries and Wages Expense 58,000

Office Expenses 16,000

Travel Expenses 1,000 75,000

Operating Income: 50,000

Non-Operating Expenses

Income Tax Expense 15,000 15,000

Net Income 35,000

Explanation:

Multistep income statement makes a clear distinction on Operating Incomes and Expenses and Non-Operating Incomes and Expenses

Operating income is Profit generated from Primary activities of the company

Non-Operating Incomes and Expenses do not relate to the Primary activities of the firm.They occur as a result of secondary activities.

7 0

2 years ago

Joan is creating a new mail merge envelope to use in sending a letter to her customers. which word feature should she use for a

lbvjy [14]

The correct answer is: type new list.

HOPE THIS HELPS...

7 0

3 years ago

Examine the quarterly sales data in a little different way. Contruct two pie charts, one for sales in 2012 and the other for sal

julsineya [31]

Answer:

sales are becoming less seasonal

Explanation:

besides constructing a pie chart, we can also answer this question by percentages (which is more exact).

2012:

total sales = $69,338

Q1 sales = $10,613 / $69,338 = 15.31%

Q2 sales = $6,424 / $69,338 = 9.26%

Q3 sales = $19,283 / $69,338 = 27.81%

Q4 sales = $33,019 / $69,338 = 47.68%

2013:

total sales = $142,238

Q1 sales = $30,342 / $142,238 = 21.33%

Q2 sales = $33,867 / $142,238 = 23.81%

Q3 sales = $34,246 / $142,238 = 24.08%

Q4 sales = $43,783 / $142,238 = 30.78%

During 2012, almost 50% of total sales happened during Q4, something similar to selling toys which are extremely seasonal due to Christmas.

During 2013, this changed since Q4 sales only represent 30% of total sales. Sales increased during Q1 and Q2, and slightly decreased in Q3. They are much more similar now, since sales are almost evenly spread throughout the year.

7 0

2 years ago

How were land mines used in the civil war?

NARA [144]

As trapes so when the enemy would attack the planted explosives would go off and kill multiple people

8 0

3 years ago