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3 years ago

When money is used to express the value of goods and services, it is functioning as a?

2 answers:

8 0

The term money is used to describe anything that is regularly used in economic transactions or exchanges.
When money is used to express the value of goods and services, it is functioning as a unit of account.
This is the primary function of money, to be used a unit by which value of a thing is accounted and compared.

mamaluj [8]3 years ago

3 0

Unit of account. The unit of account is used in economics to measure currency that is being used to represent the real value or cost of an economic item. These items can be goods, services, assets, liabilities, income and/or expenses. Units of account is one of the three well-known functions of money.

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Aaron promises to sell his boat to Matt, and Matt promises to buy it from Aaron. What type of contract is this? Group of answer

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Answer: c. A bilateral contract

Explanation:

In a bilateral contract, the parties involved promise to both perform duties to the other which will make them both an obligor and an obligee.

An obligor is one who owes a duty to another and the obligee is one who a duty is owed to.

Aaron both owes a duty to sell the boat to Matt as well as being owed by Matt the duty to buy his boat. The same goes for Matt thus making this a bilateral contract.

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3 years ago

A corporation is considering expanding operations to meet growing demand. With the capital expansion, the current accounts are e

andre [41]

Answer:

B) a decrease of $40,000

Explanation:

As we Know Working capital is the the net or current assets and current liabilities.

Increase in Current Assets

Cash $20,000

Accounts receivable $40,000

Inventories $60,000

Total Increase in CA $120,000

Increase in Current Liabilities

Accounts payable $50,000

Accruals $10,000

Long-term debt $100,000

Total Increase in CA $160,000

Increase in Working Capital = Increase in Current Assets - Increase in Current Liabilities

Change in Working Capital = $120,000 - $160,000 = -$40,000

As current Liabilities increased more than the current assets, so the working capital will decrease by $40,000

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