All categories

3 years ago

When sellers are willing to accept money in exchange for goods and services, money is acting as a?

1 answer:

4 0

Money is functioning as a medium of exchange. Money makes transactions easier, instead of having to barter for items, you can complete transactions through the usage of money.
Money serves three primary functions unit of account, store of value and most important medium of exchange.

You might be interested in

If a unit of inventory has declined in value below original cost, but the market value exceeds net realizable value, the amount

meriva

What are the options?

3 0

4 years ago

The process of posting is the transfer of debits and credits from the a.ledger to the journal. b.journal to the ledger. c.T acco

antiseptic1488 [7]

Answer:

The correct answer is letter "B": journal to the ledger.

Explanation:

The activity in which accountants transfer information from the journals to the general ledger is called posting. By posting, only the balances are transferred to the general ledger, not individual transactions. There are no set intervals in which postings should be made. It depends on how often the activities of the company requests it.

6 0

3 years ago

You inherit $300,000 from your parents and want to use the money to supplement your retirement. You receive the money on your 65

spayn [35]

The constant monthly withdrawal amount can be calculated by using PMT function in excel as in =PMT(rate,nper,pv) where rate = 7% = 0.07/12 (Monthly rate), nper = 20 years = 20*12 = 240 months and pv = 300,000

Constant monthly withdrawal amount =PMT(0.07/12,240,300000)

Constant monthly withdrawal amount = $2,325.90

Constant monthly withdrawal amount = $2,326 (Option C)

3 0

3 years ago

Rain spoils the strawberry crop, the price of strawberries rises from $2 to $4 a box, and the quantity demanded decreases fr

Veseljchak [2.6K]

Answer:

a. Price elasticity of demand is 3.5.

b. Demand for strawberries elastic.

Explanation:

a. Calculate the price elasticity of demand over this price range.

Price elasticity of demand can be calculated as the percentage change in price divided by percentage change in quantity demanded.

We can therefore proceed as follows:

Percentage change in price = [(4 - 2) ÷ 2] × 100 = 100%

Percentage change in quantity demanded = [(1,400 - 1,000) ÷ 1,400] × 100 = 28.57%

Price elasticity of demand = 100% ÷ 28.57% = 3.5

Therefore, the price elasticity of demand over this price range is 3.5.

b. Describe the demand for strawberries.

Since the calculated price elasticity of demand of 3.5 is greater 1, this implies that demand for strawberries elastic. That is, customers are sensitive and more responsive to the change in price of strawberries.

8 0

4 years ago

Why are yeezys so expensive?

Natasha2012 [34]

The price behind the Yeezy allows for the item to be well known. Much like Jordan brand sneakers, its name represents a higher fiscal status.

8 0

3 years ago

Read 2 more answers

When sellers are willing to accept money in exchange for goods and​ services, money is acting as a?

When sellers are willing to accept money in exchange for goods and services, money is acting as a?