1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
katovenus [111]
2 years ago
5

Tim wants to purchase a new computer and go to the Caribbean for spring break. The computer is priced at $1,299, and the vacatio

n is priced at $750. He has only $1,537 in his checking account, so he cannot afford to purchase both. After much thought, Tim buys the computer and writes a check for $1,299. Identify what role money plays in each of the following parts of the story. Hint: Select each role only once. Role of Money Medium of Exchange Unit of Account Store of Value Tim has $1,537 in his checking account. Tim writes a check for $1,299. Tim can easily determine that the price of the computer is more than the price of the vacation.
Business
1 answer:
Alja [10]2 years ago
5 0

Answer:

Role of Money in Each Part of the Story:

1. Tim can easily determine that the price of the computer is more than the price of the vacation = Unit of Account

2. Tim has $1,537 in his checking account = Store of value

3. Tim writes a check for $1,299= Medium of Exchange

Explanation:

Money is countable and can be used to value exchanges and calculate profits and losses, income and expenses, and debts and wealth.  It can also be stored currently, retrieved at a later date, and exchanged for value in the future without significant loss of value.  Money facilitates transactions between parties.

You might be interested in
What is goodwill in a business sale and why is it amortized in the business financial statements
astra-53 [7]

Answer:

See below

Explanation:

Goodwill arises when is a business is acquired as a going concern. It is an intangible asset of a business. Goodwill represents the value of a company's customer base, its location, any patents, and the brand name. It consists of the value of suppliers, customers, and employee relationships that facilitates the smooth running of the business.

The value of goodwill is the difference between the purchase price and the net cost of its tangible and other intangible assets of a business. Amortization of goodwill means spreading the cost of goodwill to several financial years.

Goodwill is amortized because the business benefits from the goodwill for many years.  In other words, the expenditure on goodwill will profit the company in more than one financial year. As per the matching principle, expenses and incomes should be recognized in the period they occur. As benefits will be enjoyed in many years, the expenses should also be spread in similar years.

7 0
3 years ago
On October 1, 2017, Vaughn, Inc., leased a machine from Fell Leasing Company for five years. The lease requires five annual paym
Alisiya [41]

Answer:

Explanation:

1.Amount to be paid Annually to fell leasing Company = $10,000.

Incremental rate of borrowing = 11%

Lease Period = 5 yrs.

2. Value of lease equipment as on 1st October 2017 i.e., date of lease.

= 10,000 * (PVOA) = (11* for 5 years)

=10,000 * 3.6959 (using -PVAF table)

= $ 36,959

Factors are used according to the table of PVAF

3.Lease liability as on 31-12-2017

= 10,000 * PVAD (11 * 4 years) [since 4 years in these)

 = 10,000 * 3.44371

= $ 34,437.10

Lease liability as on 31st Dec 2018

= 10,000 * PVAD (11% 3 years) (still 3 yrs left as on 31-12 -2018)

= 10,000 * 2.71252 = $ 27,125.20

7 0
3 years ago
What are THREE purposes of monetary policy? A to eliminate competition B. to promote price stability c. to eliminate unemploymen
Oksanka [162]

Answer:

c. to eliminate unemployment,B. to promote price stability and F. to control federal spending

Explanation:

8 0
3 years ago
5. A business in its first period of trading charges $4,000 of sales tax on its sales and suffers $3,500 of sales tax on its pur
Katyanochek1 [597]

The unrecoverable sales tax on business entertaining ($250) has been deducted from $3,500

solution

                                   SALES TAX CONTROL ACCOUNT

Payable s                                             $ 3250        Receivables       $4000

Balance c/d (owned to tax authority)   $ 750

                                                           -------------                                ---------------

                                                             $ 4000                                    $4000

                                                           --------------                               ----------------

                                                                              By balance b/d       $ 750

8 0
2 years ago
1. Population groups philosophy
makkiz [27]

Answer:

1. Population groups: target groups

2. Mission statement: philosophy

3. Human services: social services

Explanation:

This is the best way to connect these terms. A population group refers to a section of the population that is discussed or targeted in a particular project or campaign. These can refer to ethnicities, ages, or some other social characteristic. A mission statement refers to a phrase or an idea that drives the work of a particular organization. Finally, human services refers to a range of social services that are usually provided by the government or by organizations. These usually include services such as healthcare or education.

8 0
3 years ago
Other questions:
  • A sporting goods store discounts every item in its store based on the original price of the item. An item is discounted: 10% if
    7·1 answer
  • The state of massachusetts established a clearinghouse system, the commonwealth health insurance connector, which facilitated th
    6·1 answer
  • Meena Chavan​ Corp.'s computer chip production process yields DRAM chips with an average life of 1,600 hours and sigma ​= 80 hou
    14·1 answer
  • Which of the following is an example of an enterprising career?
    12·1 answer
  • QUESTION 5 Which of the following is a primary responsibility of the Federal Reserve Bank? Establish monetary policy Collect tax
    11·1 answer
  • Which of the following are attributes of California's legislative process for passing state budgets and controlling taxes?
    11·1 answer
  • Mercantilists wanted a favorable balance of trade, by which they meant a. exports = imports. b. exports > imports. c. exports
    14·1 answer
  • How are you im good mySelf
    8·1 answer
  • Which of the following is NOT a promotion strategy or activity
    14·1 answer
  • When buyers in a competitive market take the selling price as given, they are said to be a. monopolists. b. free riders. c. pric
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!