The phrases that describes money the best would be: Medium of exchange
Before money were made, in order to obtain a product that we don't own, we need to exchange it with another product that we own. This system is commonly known as barter.
With money, we can obtain a product that we don't own without exchanging it with anything. This function is the reason why money is called medium of exchange
A) is late recognizing that a recession has begun and conducts expansionary monetary policy.
Answer:
The company's debt ratio at the end of the current year is 66%
Explanation:
For computing the debt ratio, we need to apply the formula which is shown below:
Debt ratio = (Total liabilities) ÷ (total assets) × 100
= ($182,200 ÷ $276,000) × 100
= 66%
The other information which are given in the question is of no use. That's why we do not consider it. Hence, ignored it.
Answer:
Cash A/C Debit $300
To James company $300
(Amount collected from James Company for credit sale)
Explanation:
Cash A/C Debit $300
To James company $300
(Amount collected from James Company for credit sale)
Note: The terms here provided that, 2/10, n/30.
Which means that 2% discount if payment made within 10 days, and total 30 days credit allowed.
Here the sales were made on 14 June, and payment received on 27 June that is it took more than 10 days as 10 days complete on 24 June.
Therefore, no discount will be offered.
Answer:
It is customary for a feeder fund to keep all client fees
Explanation:
