All categories

3 years ago

Of money's three functions, the one that distinguishes money from other assets is:

Business

1 answer:

NNADVOKAT [17]3 years ago

5 0

Answer:

Medium of Exchange

Explanation:

The main function that distinguishes money from other assets is that everybody accept the money as a medium of exchange, either for our job or to buy things that we are interested.

Always through history the main function of money was to be a medium of exchange because at the begining money didn't exist so you needed to use different things, first salt, then precious metal and today money as we know.

You might be interested in

aria's Food Service provides meals that nonprofit organizations distribute to handicapped and elderly people. The following is h

zhannawk [14.2K]

Answer:

Increase operational profit by $156

Explanation:

As for the provided information, we know that the there is an idle capacity lying, which can now be used, and since the capacity is idle, no extra fixed cost will be incurred.

The variable cost for each unit is as follows:

Cost of meal produced = $14,720 which includes fixed cost of $4,864, variable cost = $14,720 - $4,864 = $9,856

Cost per meal = $9,856/3,200 = $3.08

Administrative cost as provided will not be affected.

Thus, the total relevant cost per meal = $3.08

Cost of 300 meals = $3.08 $\times$ 300 = $924

Since the organization will pay $3.60 per meal, there will be total revenue from such sales as follows:

$3.60 $\times$ 300 = $1,080

Less: Total Cost = ($924)

Profit = $156

Therefore, this special order will increase the operating profit of Maria by $156.

8 0

3 years ago

Roger works as a sales manager for Hi-Tech Solutions, a company that performs software consulting services. While working for Hi

son4ous [18]

Answer:

B, disgorgement

Explanation:

Funds that were received through illegal or unethical business transactions are disgorged, or paid back off.

6 0

3 years ago

Appliance Possible Inc. (AP) is a manufacturer of toaster ovens. To improve control over operations, the president of AP wants t

joja [24]

Answer:

Appliance Possible Inc. (AP)

a) Flexible Budgets for productions level:

i) Production level of 90,000 units:

Unit variable cost = $13 $(7+4+2)

Total Variable Costs = 90,000 x $13 = $1,170,000

Fixed Costs = $225,000

Total Costs = $1,395,000

ii) Production level of 105,000 units:

Total Variable costs = 105,000 x $13 = $1,365,000

Fixed Costs = $225,000

Total Costs = $1,590,000

iii) Production level of 120,000 units:

Total Variable costs = 120,000 x $13 = $1,560,000

Fixed Costs = $225,000

Total Costs = $1,785,000

b) If AP sells the toaster ovens for $18 each, to make a profit of $309,000 before taxes, units to be sold are:

Break-even Point + Target Profit = (Fixed Cost + Target Profit)/Contribution per unit

Contribution per unit = $18 - $13 = $5

= ($225,000 + $309,000)/ $5

= $534,000/$5

= 106,800 units

Explanation:

a) A flexible budget tries to change the level of output. It is a technique used to assess performance under different volumes or activities. It helps management to make the right decisions, given the fact that different levels of activity may call for different cost and revenue reflections.

b) To make a target profit, the fixed cost is added to the target profit and divided by the unit contribution. This produces the number of units to be sold in order to achieve the target profit.

c) Contribution is the difference between the selling value and the variable costs. It is the element that covers fixed costs and generates profit before taxes.

7 0

3 years ago

Paid $1,300 towards principal of the notes payable<br> What is the credit and debit for this?

Roman55 [17]

Credit $1300 from you cash or bank account and Debit $1300 to Principal account.

4 0

3 years ago

Jennifer is marketing manager for a major consumer goods firm. She is interested in determining if market opportunity exists for

Andrei [34K]

Answer:

- How to best segment the ready-made dinner market.

4 0

3 years ago