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3 years ago

in a based economy transaction require that each party have something the other desires increase market

Business

1 answer:

Galina-37 [17]3 years ago

6 0

Answer:

The ansewr is a barter based economy.

In a barter based economy, goods are exchanged for other goods, because no good that takes the functions of money exists (unit of account, store of value, and medium of exchange).

Barter economies can work on a limited scope, but to a larger extent, they can become inefficient, because this type of economy requires a double coincidence of wants: both parties of the transaction must desire the other party's goods.

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Nickel Inc. purchased a tract of land as a possible future plant site in 2013. Valuable sulfur deposits were discovered on the l

Elina [12.6K]

Answer:

Debit $ 800,000 to the Asset Account.

Explanation:

With the help of successful efforts process we will find the solution of the given problem .The successful efforts process stated that,if the company are upgrading only those expenses or the cost that are involved with the discovery of oil and the gas then reserves are identified.

The successful efforts process stated that when the cost of exploration is achieved then the cost of the exploration is capitalized .

So the sulfur reserves were identified therefore $800,000 in exploration expenses would be debited to the Asset Account.

4 0

3 years ago

Stephanie is the wage earner in a "typical family" with $36,000 gross annual income. Use the easy method to determine how much i

MA_775_DIABLO [31]

Answer:

$176,400

Explanation:

Life insurance need = 0.70 × Salary amount × 7

= 0.70 × $36,000 × 7

= $176,400

Therefore using the easy method the amountof insurance that Stephanie should carry is $176,400

6 0

3 years ago

Read 2 more answers

Each day you have $5 for lunch. Today, you decided to save $2

prisoha [69]

Each day you have $5 for lunch. Today, you decided to save $2 and buy the chicken salad tomorrow for $6.50-In this case the money is being used

to save and store the purchasing power

Explanation:

The term money can be defined as a thing that serves as

A medium of exchange which is usually financial in nature.
It is used by the borrower to repay back to the lender-used to repay the debt.
It is used as an unit of accounting to measure your income and expenditure.
It is used to store the value of money -in other words used to save the purchasing power of an individual

Thus we can say that ,

Each day you have $5 for lunch. Today, you decided to save $2 and buy the chicken salad tomorrow for $6.50-In this case the money is being used

to save and store the purchasing power

8 0

3 years ago

Secondary data is often gathered primary data

AlexFokin [52]

Answer:

Is often gathered BEFORE primary data

Explanation:

7 0

3 years ago

Read 2 more answers

A company uses a process cost accounting system. Its Sewing Department's beginning inventory consisted of 50,000 units (1/4 comp

Mandarinka [93]

Answer:

B Direct Materials 210,000; Conversion Cost 180,000

Explanation:

beginning inventory 50,000

start and finished 120,000

Complete and trasnferred-out 170,000

Convesion Cost:

Coplete and transferred-out 170,000

Ending Inventory 40,000 x 1/4 = 10,000

CC equivalent units 180,000

DIrect Materials

Coplete and transferred-out 170,000

Ending Inventory 40,000x100% = 40,000

DM equivalent units 210,000

Under W-A method we justdiscriminate on transferred-out and ending work in process.

We don't do the difference between started and finished and beginning inventory.

8 0

3 years ago