Answer:
<em>Accounting is the process of recording financial transactions pertaining to a business.</em>
Answer:
Banks act as financial intermediaries because they stand between savers and borrowers. Savers place deposits with banks, and then receive interest payments and withdraw money. Borrowers receive loans from banks and repay the loans with interest.
Explanation:
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Answer:
1. False
2. false
3. True
4. False
5. True
Explanation:
Receipts for gold deposits were nontransferable. (False)
Because what became paper money issued by goldsmiths depended on the amount of gold deposited, goldsmiths could not actually create money. (False)
The earliest banks backed deposits 100% with gold. (True)
Early banks' ability to create money was limited only by the goldsmiths' prudence and judgement. (False)
The development of paper money and the banking system was due in large part to convenience. (True)
Answer: Cost
Explanation:
Regression allows for us to be able to predict the cost of a certain level of production based on past costs and cost behavior.
It works by using the basic formula:
y = mx + c
Y = total cost
M = variable cost
x = volume of production
c = fixed cost
Using this graphical method, the cost of production can be estimated and is therefore very useful in capital budgeting.
