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marshall27 [118]
3 years ago
5

Functions of Money Jeffrey has had a busy day. Today he went to a financial manager to begin planning for his son's future. He o

pened a college savings account. This is an example of a
Business
1 answer:
Novosadov [1.4K]3 years ago
5 0

Answer:

Store of value.

Explanation:

In economics or financial accounting, money can be defined as any asset used by an individual or business entity to make purchases of goods and services at a specific period of time.

Simply stated, money refers to any asset which can be used to purchase goods and services by customers.

This ultimately implies that, money is any recognized economic unit that is generally accepted as a medium of exchange for goods and services, as well as repayment of debts such as loans, taxes across the world.

The three (3) main functions of money all over the world are;

I. Medium of exchange.

II. Unit of account.

III. Store of value.

In this scenario, Jeffrey went to a financial manager to begin planning for his son's future by opening a college savings account. Thus, this is is an example of a store of value because the purchasing power was transferred from the present to the future.

In conclusion, money being a store of value makes it possible to transfer purchasing power between traders and buyers from the present to the future.

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The company can manufacture either 3 couches per machine hour or 2 ​bed(s) per machine hour. The​ company's production capacity
e-lub [12.9K]

Answer:

Based on the available information, the company should produce 27,900 units of  couches in a month. This decision may be different  if we have the product profitability information in terms of contribution of each product.

                                                         

Explanation:

                                                                                  Couches             Bed(s)  

Production per machine hour (unit)                                   3                   2

Available Capacity (Machine hour per month)                9,300           9,300

Total possible production (unit) (9,300 x 3)-Couches   27,900

Total possible production (unit) (9,300 x 2)-Bed                                  18,600

Based on the available information, the company should produce 27,900 units of  couches since it is the production activities that produces a higher number of units in a month compared to the production of beds which can only yield 18,600 units  considering the available production capacity of 9,300 machine hours per month.

The decision may be different if we have the product profitability information in terms of contribution of each product.

4 0
3 years ago
Which statement best explains student loans that cover the costs of an education?
aleksandrvk [35]
The statement which best explains student loans that cover the costs of an education is : b)They require repayment with interest. In order to get financial aid for your education you have to sign a contract with a loan company. Most of loan companies provide students with loans with interest, but there is a possibility to find an interest free loan if yuo are a student of a federal government. The interest you have to pay is established in your contract. And if you borrow with a no-interest loan, you will just pay back the same amount that you took from the company.
7 0
3 years ago
Read 2 more answers
Bernard​ Company's budgeted manufacturing overhead is $ 2 comma 700 comma 000. Overhead is allocated on the basis of direct labo
NikAS [45]

Answer:

D. $ 45

Explanation:

According to data given in question:

Bernard​ Company's budgeted manufacturing overhead = $2,700,000

Direct labor hours for the period = 60,000 hours

As Overhead is allocated on the basis of direct labor hours.

Manufacturing overhead​ rate = $2,700,000 / 60,000 hours

Manufacturing overhead​ rate = $45 / hour

So the correct Answer is D. $ 45

5 0
3 years ago
An ad using the positioning strategy ______.
Vaselesa [24]

Answer:

The answer is c. identifies something that the product has that all the competitors lack.

Explanation:

"Positioning strategies" mean tactics and methods a company uses to "place" the product uniquely and in an unforgettable manner in the mind of the consumer/customer.

If an advertisement uses a positioning strategy, they focus on a particular aspect of its products or services.

The ad position itself is the central theme or message and acts as the "image" of the product!

By identifying an aspect that our product has and competitors lack, we carve out and high light a unique aspect of our product.

7 0
3 years ago
Sam is planning to start a pool cleaning company from his home. He has decided on a radius of 30 miles from his home as a region
Citrus2011 [14]

Answer:

The correct answer is option d.

Explanation:

Sam is planning to start a pool cleaning company from his home.  

He has decided on a radius of 30 miles from his home as a region of operation.  

He found that 43% of the homes in the region have a swimming pool.  

There are 36,248 homes within a 30-mile radius of Sam’s home.

The amount of potential customers Sam has

= \frac{43}{100}\ \times\ 36,248

= 15,586.64

So, Sam has approximately 15,587 potential customers.

4 0
3 years ago
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