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4 years ago

Which best explains the difference between fiat money and commodity money?

2 answers:

8 0

Fiat money is paper money that has been made legal by a government decree. This is government-issued money but there is no silver or gold value backing it up. Commodity money is money that comes from the commidity in which the money is made. The objects have value within themselves and can changed based on the value of the object.

lana [24]4 years ago

4 0

Answer:

Commodity money can be used for some other purpose while fiat money can only be used as a medium of exchange

verified on a p e x

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Suppose the economy enters a recession. If government policymakersdashCongress, the president, and members of the Federal Rese

jonny [76]

Answer:

The correct answer is ii. The unemployment rate will rise in the short run but return to the natural rate of unemployment in the long run, and real GDP will drop below potential GDP in the short run but return to potential GDP in the long run.

Explanation:

The economic recession occurs when there is a decrease in economic activity within a specific country. If shock actions are not taken, the most likely thing that happens is that companies stop hiring staff because they will require much less labor. This situation is explained in Okun's law, which mathematically demonstrates the relationship between the unemployment rate and economic growth.

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4 years ago

Quality home made ice cream has plans to pay decreasing annual dividends of $1.50, $1.25, and $1.00 over the next three years, r

Maurinko [17]

i think the answer is 5

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4 years ago

Travis Corporation begins the year with $50,000 of tire inventory. The company purchases tires worth $150,000 during the year. A

bekas [8.4K]

Answer:

$170,000

Explanation:

Given that,

Travis Corporation begins the year with $50,000 of tire inventory that means inventories in the beginning of the year.

Purchases of tires during the year = $150,000

At the end of the year,

Purchase cost of remaining inventory = $30,000

Therefore,

Cost of goods sold:

= Beginning inventories + Purchases - Ending inventories

= $50,000 + $150,000 - $30,000

= $200,000 - $30,000

= $170,000

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3 years ago

The Polaris Company uses a job-order costing system. The following transactions occurred in October: Raw materials purchased on

Naddika [18.5K]

Answer:

The question is incomplete. Missing Portion is written as bold in explanation.

Explanation:

Required:

1. Prepare journal entries to record the transactions given above.

2. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each account. Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $37,000.

Account Dr Cr

1.Raw materials 209000

Account payable-Liability 209000

The Materials are purchased in credit.

2. Work In Process 152000

Manufacturing Overhead 38000

Raw materials 190000

Entry for Materials used in Production.

3. Work In Process 48000

Manufacturing Overhead 22000

Salaries payable 70000

4.Manufacturing Overhead 104000

Depreciation 104000

5. Manufacturing Overhead 131000

Account payable 131000

6.Work In Process 686700 ( 9 x 76300= 686700)

Manufacturing Overhead 686700

7.Finished Goods 512000

Work In Process 512000

8.Cost of goods sold 449000

Finished Goods 449000

Accounts Receivable 547780

Sales Revenue 547780

**Sales - Cost of job * 1.22 (22 % above cost)

2. T-accounts for Manufacturing Overhead and Work in Process.

Manufacturing overhead

Dr Cr

22000 686700

38000

104000

Ending balance 391700 - Favorable

Work In process

Dr Cr

beginning bal. 37000

152000

48000 512000

Ending balance 411700

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4 years ago

List the five (5) Traits of an Entrepreneur 1. 2. 3. 4. 5.

Kazeer [188]

Answer:

Passion. For those uninitiated, entrepreneurs are not in it for the money. ...

Resilience. ...

Strong Sense of Self. ...

Flexibility. ...

Vision.

Explanation:

Resolute motivation and passion. The first and foremost quality of a successful entrepreneur is passion. ...

Self-discipline. This is one of the most essential characteristics of a successful entrepreneur. ...

Risk-taking ability. ...

Creative thinking. ...

Persistence.

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3 years ago