Great question!
Fiat money deries it's value from law or regulation. However representative money derives its value either from a claim on a commodity (gold for example).
However sometimes representative money means it has value higher than what it is made of, ie if you melt it down it is worth less than before it is melted down. In this sense fiat money is a type of representative money
Answer:
50%
Explanation:
Sales at strong state = 2 million
Sales in Recession = 1 million
% Decline = 
*100 = 50%
A mission statement defines the company vision and objectives.
A vision statement focuses more on the future goals and is usually longer than a mission statement because it covers things company purpose, goals, how it will be achieved, etc.
Answer:
202%
Explanation:
Calculation to determine what the company's overhead application rate is
First step is to calculate the Total manufacturing overhead using this formula
Total manufacturing overhead = Overhead rate - Direct material cost - Direct labor cost
Let plug in the formula
Total manufacturing overhead =5220 - 2,200 - 1000
Total manufacturing overhead =2020
Now let determine the overhead application rate using this formula
Overhead application rate=Total manufacturing overhead/Direct labor cost
Let plug in the formula
Overhead application rate=2020/1000*100
Overhead application rate=202%
Therefore, the company's overhead application rate is:202%
Answer:
Net cash flows from operating activities = $94,750
Explanation:
Net cash flows from operating activities = Net income + Depreciation expense - Increase in inventory - Decrease in salaries payable + Decrease in accounts receivable + Amortization of patent + Amortization of premium on bonds + Increase in accounts payable
=> Net cash flows from operating activities = $64,250 + $13,750 - $4,875 - $3,575 + $6,500 + $1,025 + $6,925 + $10,750
=> Net cash flows from operating activities = $94,750
N.B. Cash Dividends fall under Cash Flow from Financing Activities, that's why it has not been taken in account in Net cash flows from operating activities.
