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3 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]3 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

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On October 1. Ebony Ernst organized Ernst Consulting, on October 3. the owner contributed $84,310 in assets in exchange for its

LuckyWell [14K]

Answer and Explanation:

The Preparation of the statement of cash flows is shown below:-

Ernst Consulting

Statement of cash flows

For the year ended Oct 31

Particulars Amount

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($7,350 - $5,190)

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Paid cash for telephone

expense -$790

Paid cash for miscellaneous

expense -$610

Net cash flow from operating activities -$7,470

Cash flow from investing activities

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Net cash flow from investing activities -$18,310

Cash flow from financing activities

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Initial investment in Cash $38,320

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Net cash increase/decrease $10,200

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Ending Cash $10,200

Therefore we indicate the minus sign for cash outflow while the positive amount shows cash inflow.

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3 years ago

For the composite method, the composite...(a)rate is the total cost divided by the total annual depreciation.(b)rate is the tota

kotykmax [81]

Answer:

The correct answer is letter "C": life is the total cost divided by the total annual depreciation.

Explanation:

The composite depreciation method uses the straight-line depreciation to rate and average the loss of value in given assets. It divides the useful life figure by the total depreciable cost to arrive at the total depreciation per year. It is helpful to determine the depreciation in a complete class of assets.

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3 years ago

Jamestown Supply is trying to decide whether to lease or buy some new equipment. The equipment costs $72,000, has a 4-year life,

DochEvi [55]

Answer:

$15,708

Explanation:

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Using this formula

Aftertax lease payment=Leased equipment(1-Tax rate)

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3 years ago

Which of the following is a general two-year college level degree

svetlana [45]

Answer:

an associates degree

Explanation:

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3 years ago

Read 2 more answers

How did great britain enforce the payment of taxes.

andrew-mc [135]

Answer:

King George lll sent British soldiers to the colonies to enforce payment of taxes, because colonist sometimes smuggled goods into colonies to avoid paying taxes. ... The items were marked with a stamp to show the tax was paid.

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3 years ago