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
nadezda [96]
3 years ago
6

Fiat money:________.a) has no intrinsic value. b) is backed by gold. c) is a medium of exchange but not a unit of account. d) is

any close substitute for curren
Business
1 answer:
liberstina [14]3 years ago
3 0

Answer: a) has no intrinsic value

Explanation:

Fiat currency is money that is used in a country and is regulated by the central bank of that country. Fiat money has no commodity backing it such as gold or silver and has no intrinsic value of its own.

It is instead backed by the full faith and credit of the government of the country that produces it. For instance, the US dollar is backed by the full faith and credit of the US government.

You might be interested in
(Ignore income taxes in this problem.) Alesi Corporation is considering purchasing a machine that would cost $283,850 and have a
gavmur [86]

Answer:

(A) Payback period for the machine= 3.5 years

(B) Simple rate of return for the machine= 87.5%

Explanation:

Alesu corporation is considering purchasing a machine that would cost $283,850

The useful life is 5 years

The machine would reduce cash operating costs by $81,100 per year

The salvage value is $107,100

(A) The payback period for the machine can be calculated as follows

= cost/amount of cash flow

= 283,850/81,100

= 3.5 years

(B) The simple rate of return for the machine can be calculated as follows

First we calculate the depreciation expense

= 283,850-107,100/5

= 176,750/5

= 35,350

Annual incremental income= cost savings -depreciation expenses

= 283,850-35,350

= 248,500

Simple rate of return = annual incremental income/cost × 100

= 248,500/283,850 × 100

= 0.875 × 100

= 87.5%

3 0
3 years ago
1) The Pet Company has recently discovered a type of rock which, when crushed, is extremely absorbent. It is expected that the f
Olenka [21]

Answer:The Pet Company has recently discovered a type of rock which, when crushed, is extremely absorbent. It is expected that the firm will experience (beginning now) an unusually high growth rate (20%) during the period (3 years) when it has exclusive rights to the property where this rock can be found. However, beginning with the fourth year the firm's competition will have access to the material, and from that time on the firm will assume a normal growth rate of 8% annually. During the rapid growth period, the firm's dividend payout ratio will be relatively low (20%), to conserve funds for reinvestment. However, the decrease in growth will be accompanied by an increase in dividend payout to 50%. Last year's earnings were $2.00 per share (E0) and the firm's cost of equity is 10%. What should be the current price of the common stock?

Explanation:

5 0
3 years ago
The variable in an experiment that is observed or measured in response to the experimental condition is known as the _________ v
Ierofanga [76]
Design make liability
5 0
3 years ago
The National Bank Act of 1864 established the national banking system in the United States. The Act still governs U.S. national
Andrew [12]

Answer:

The answer is True

Explanation:

4 0
3 years ago
On December 31, 2021, Harris Co. leased a machine from Catt, Inc. for a five-year period. Equal annual payments under the lease
densk [106]

Answer: $5,222,400

Explanation:

Here is the complete question:

On December 31, 2021, Harris Co. leased a machine from Catt, Inc. for a five-year period. Equal annual payments under the lease are $2,100,000 (including $100,000 annual executory costs) and are due on December 31 of each year. The first payment was made on December 31, 2021, and the second payment was made on December 31, 2022. The five lease payments are discounted at 10% over the lease term. The present value of lease payments at the inception of the lease and before the first annual payment was $8,756,727. The lease is appropriately accounted for as a finance lease by Harris. In its December 31, 2022 balance sheet, Harris should report a lease liability of

a. $6,340,000.

b. $6,240,000.

c. $5,706,000.

d. $5,222,400

In its December 31, 2022 balance sheet, Harris should report a lease liability of:

Present value of annual lease payments = $8,756,727

Less: Annual lease payment on December 31, 2021 = $2,100,000

Less: Annual lease payment on December 31, 2022 = $2,100,000

Add: Interest expense on lease liability = $665,673

Lease liability = $5,222,400

Note that the interest expense on lease liability is calculated as:

= (8756727 - 2100000) × 10%

= $6,656,727 × 0.1

= $665,672.7 = $665,673

6 0
3 years ago
Other questions:
  • What is a disadvantage for a company that goes public
    9·1 answer
  • MARKING BRAINLIST!!! THE NAMES HAVE TO BE REALLY GOOD!
    11·2 answers
  • Suppose consumption demand of GDP decreases during a recession while the other demands are unaffected. What happens to the equil
    12·1 answer
  • Molly is a 27-year-old female who looks years older than her actual age. she lives a high-risk lifestyle that includes regular u
    12·1 answer
  • government regulation is the most important factor. B) commodity money, because it is valued more highly, tends to drive out pap
    12·2 answers
  • The company estimates that it can issue debt at a rate of rd = 9%, and its tax rate is 40%. It can issue preferred stock that pa
    15·1 answer
  • Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $2,300 of dir
    8·1 answer
  • vA $1,000 three-year par-value bond yields an effective annual interest rate of 6%. Coupons are paid on an annual basis at a rat
    12·1 answer
  • If The Wall Street Journal lists a stock's dividend as $1, then it is most likely the case that the stock: Multiple Choice pays
    10·1 answer
  • The price system is an important component of the market because it
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!