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Pepsi [2]
3 years ago
13

Due to the rise of large-scale production, the influx of peasants to urban areas to find work, and the development of a system o

f wage labor, the ________ system became obsolete in favor of a new system of legal currency.
Business
1 answer:
Strike441 [17]3 years ago
8 0

Answer:

Barter system

Explanation:

Barter system - it is system of exchanging the good and service with others good and service in that return. the main point to note in this is that medium of offering services and goods is ignored i.e. money.

these type of system is used in society from centuries and long time back before money was introduced.

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Starr Corporation loaned $600,000 to another corporation on December 1, 2020 and, in exchange, received a 3-month, 8% interest-b
prisoha [69]

Answer:

                          Adjusting entry

Date    Account Title                      Debit        Credit

           Interest receivables           $4,000

           ($600,000*8%*1/12)

                   Interest revenue                            $4,000

           (To record accrued interest on note)

3 0
3 years ago
Which one of the following statements regarding partnership taxation is incorrect?
Arisa [49]

Answer:

A partnership is a taxable entity for Federal income tax purposes.

5 0
2 years ago
Cazden Motors' stock is trading at $30 a share. Call options on the company's stock are also available, some with a strike price
slava [35]

Answer:

d. If Cazden's stock price rose by $5, the exercise value of the options with $25 strike price would also increase by $5.

Explanation:

A call option confers a right, not an obligation upon the call buyer to buy a security at a pre determined price, known as exercise price or strike price at a future date.

A call buyer would exercise his right only in the scenarios wherein the strike price is lesser than the current market price on maturity.

Profit of a call buyer is given by = CMP as on expiry - Exercise/Strike price - Option premium paid

wherein CMP=  Current Market Price

A call option is "in the money" when it's strike price is less than it's current market price. In the given case, it means if the CMP today represents CMP upon expiry, call buyer would exercise his right and his gain would be $5 i.e $30 - $25.

Since the $25 exercise option is "in the money", an increase in stock price by $5 will also increase the strike price by $5.

 

8 0
3 years ago
Two eastern European countries formed a free trade agreement. As a result, one of the countries that used to produce its own pla
Aleonysh [2.5K]

Answer:

Trade creation

Explanation:

Trade creation is the process where there is increase in economics welfare as a result of joining a free trade area for example a customs Union.

Consumption experiences a shift from high cost producers to low cost producers causing expansion in trade.

In the given instance due to formation of free trade agreement, high cost plastic production is now replaced with low cost import of plastics from the other company.

There is a shift from high cost producers to low cost producers as a result of trade agreement between the two nations.

3 0
2 years ago
Rider Company is in the process of preparing it closing entries. It first closes its revenue accounts by crediting the Income Su
Ksivusya [100]

Answer:

B. Debit Income summary                  Debit              $ 23,000

   Retained Earnings                           Credit                                $ 23,000

Explanation:

The closing entries are recorded to close the current year's income statement  to the retained earnings account,

According to the data in the question, the revenue is closed to the credit of the income Summary  of $ 68,000 and the expenses are closed to the debit of the Income Summary of $ 45,000. This leaves a credit balance of $ 23,000 in the income summary account which is closed by debiting the income summary account and crediting the retained earnings account.

Since the revenue exceeded the expenses, the result ia  a profir which should increase the retained earnings account, which would be the case by a credit to the retained earnings account.

7 0
3 years ago
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