Answer:
no double coincidence of wants is required. People with different interest can work together. As Claire want's to work but do not want their entire salary in tomatoes.
Explanation:
Under a bartering system Wendy should look for a person willing to work for tomatoes or other of her belongings else, they will not accep the job.
As there is a currency economy Wendy pays Claire with it and Claire can then spend on tomatoes or, any other good she consider to maximize her utility.
While Wendy can sale the tomatoes anywhere else thus, amking a gain right away. If Wendy was required to look only for tomatoe interest some portion of their harvest could be lose while looking ofr commercial parties.
Answer:
Journal entry
31 December Debit Inventory write_down (loss) 1550, Credit inventory 1550
Explanation:
Inventory is accounted for at the lower of cost or net realizable value. inventory write_ down is impairment a loss to the organisation
there can never be a gain when revaluing inventory, either it remains at cost or goes down with NRV
cost market write down
closing inventory calculation
Alligator ( 70 units) 3220 2870 350
Bear (85 units) 6800 6800 0
Cougar ( 10 units) 900 920 0
Dingo ( 35 units) 1225 1225 0
Elephant ( 400 units ) 6000 4800 1200
<u> 18145</u> <u>16615</u> <u>1550</u>
COUGAR has a high market value so we value it at cost because it is the lower of the two.
Answer:
9.1%
Explanation:
To calculate the annual rate of return on this account you can use the following formula:
r = ( FV / PV )^1/n - 1, where
r= rate of return
FV= future value= 25,000
PV= present value= 450
n= number of periods of time= 46
r=(25,000/450)^(1/46)-1
r=55.56^0.0217-1
r=1.091-1
r=0.091 → 9.1%
According to this, the annual rate of return on this account was 9.1%.
Answer:
Health care,Social assistance,Child care
Direct marketing is often the approach of choice in markets with insufficient or underdeveloped distribution systems.
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