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user100 [1]
3 years ago
12

n 2010, Tara used $50,000 from funds she had invested in certificates of deposit as a down payment to buy a house. What function

did this portion of her investments serve when she made the down payment?
Business
1 answer:
yuradex [85]3 years ago
3 0

Answer:

Medium of Exchange

Explanation:

A certificate of deposit represents a legal document issued by a commercial or economic institution such as a bank as evidence of a sum of money deposited by the individual for a particular period and with a specified rate of interest.

A Medium of Exchange, on the other hand, represents an intermediary system or instrument that can be used to make sales, purchases and facilitate the trade of goods or services between various parties. To qualify as a medium of exchange, the instrument should have a standard face value and must be acceptable to all parties.

Since Tara was able to put down $50,000 as represented on the Certificates of deposit, it becomes a medium of exchange, because it has a standard face value (as determined by the bank) and it is acceptable both by Tara and the estate from which Tara is purchasing the house.

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Ben Palman owns an art gallery. He accepts paintings and sculpture on consignment and then receives 20% of the price of each pie
Elan Coil [88]

Answer:

1. The cost formula for the gallery's costs for a year would be Total cost=$80,000+$500X

2. The total cost for Ben in a year with 12 opening shows Using the cost formula developed is $86,000

Explanation:

1. According to the given data the cost formula for the gallery's costs for a year would be as follows:

Total cost=Fixed costs+Variable costs for the level of activity

Total cost=$80,000+$500*number of opening shows

Total cost=$80,000+$500X

2. The total cost for Ben in a year with 12 opening shows Using the cost formula developed above would be as follows:

Total cost=$80,000+$500X

Total cost=$80,000+$500*12

Total cost=$80,000+$6,000

Total cost=$86,000

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3 years ago
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sell off part of its inventory and or equipment

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3 years ago
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Answer:

Instructions are listed below

Explanation:

Giving the following information:

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Tickets and advertising $ 1,300

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