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lakkis [162]
3 years ago
14

The makings of a good currency Instead of using money, people could simply barter one good for another. Which of the following i

s true of this type of exchange?
A. It lowers the transaction cost of exchange.
B. It requires a double coincidence of wants.
C. It enables people to get more of the goods they want in exchange for the goods they have.
Business
1 answer:
Vsevolod [243]3 years ago
4 0

Answer: B. It requires a double coincidence of wants.

Explanation:

Barter trading works by exchanging a good or service with another person who then gives you another good or service. For this to work both parties need to want the goods they are exchanging. This is called a ''double coincidence of wants''.

Barter trading cannot happen without it because if for instance you have a good or service that the other party does not want, they will not trade. For instance, you want to trade a cow for building materials but the man selling the building materials wants 3 sheep instead and so will not trade.

It makes this system very inefficient and cumbersome.

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On july 1, shady creek resort borrowed $250,000 cash by signing a 10-year, 8% installment note requiring equal payments each jun
Rina8888 [55]

Answer:

debit cash $250,000; credit notes payable $250,000

Explanation:

July 1, journal entries should be:

  • Dr Cash account 250,000
  • Cr Notes Payable account 250,000

Since cash is an asset account and it increases (the company receives money), it should be debited.

Since notes payable is a liability account and it increases, it should be credited.

4 0
2 years ago
When a firm plans to issue bonds, it creates a(n) ______, which is a legal document that explains its obligations to bondholders
kobusy [5.1K]
When a firm plans to issue bonds, it creates a(n) -prime-, which is a legal document that explains its obligations to bondholders?
6 0
3 years ago
Net income equals: Question 2 options: Cash receipts minus cash payments. Assets minus liabilities. Revenues minus cost of goods
Alborosie

Answer:

Revenues minus expenses.

Explanation:

Net income = Revenue -  (cost of goods sold + selling, general and administrative expenses + depreciation + net interest expense + income tax)

Revenues minus cost of goods sold gives gross profit

Assets minus liabilities gives shareholders equity

5 0
3 years ago
Which of the following statements is correct? Select one: a. Supply curve A is perfectly elastic. b. Supply curve C is more inel
natali 33 [55]

The following statement supply curve A is perfectly elastic and supply curve B is perfectly inelastic are correct.

Explanation:

If there is no response from demand to prices and supply curve is vertical then the supply is perfectly inelastic.If there is more change in demand and very less change in price and supply curve is horizontal then the supply is perfectly elastic.

If the elasticity is greater than one that indicates high change in price known as Elastic supply. if the Elasticity is less than one that indicates low change in price then it is said to be Inelastic supply.

6 0
3 years ago
During the year, Belyk Paving Co. had sales of $2,384,000. Cost of goods sold, administrative and selling expenses, and deprecia
Zina [86]

Answer:

(a) Income Statement

                                  Belyk Paving Co.

                    Income statement for the year xxxx

Sales                                                      $2,384,000

Cost of goods sold                               $1,441,000

Gross Profit                                            $943,000

Administrative and selling expenses   $436,600

Depreciation expense                           $491,600

Operating Income                                  14,800

Interest expense                                    $216,600

Income before Tax                                ($201,8000)

Tax rate 35%                                          <u> $0             </u>

Net Loss                                                  <u>($201,800)</u>

(b) operating Cash flow

Net Loss                                                       ($201,800)

Add: Non cash Expenses (Depreciation)   <u> $491,600</u>

Cash flow from operating activities            <u> $289,800 </u>

6 0
3 years ago
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