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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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A(n) ________ breach of a contract occurs when a party renders inferior performance of his or her contractual obligations.
DanielleElmas [232]
The answer to this question is a material breach. A material breach is a breach of contract where in the other party failed to provide or perform what is needed in the contract. This also shows that the contract can no longer be completed.
6 0
3 years ago
As of January 1, Year 2, Room Designs Inc. had a balance of $9,900 in Cash, $3,500 in Common Stock, and $6,400 in Retained Earni
dexar [7]

Answer:

What did the company purchase that resulted in the cash outflow from investing activities?

It purchases Land for 16,500

Explanation:

The investing activities outflow will be for the purchase of long tem assets in cash.

The complete cash outflow for investing activities is explain it through the land account:

cash outflow: 16,500

land:               16,500

There are no other long-term assets which can explain the variance plus, the land account covers the amount entirely.

6 0
2 years ago
Which of the nafta members benefited the most from this free trade agreement by securing preferential treatment for 80% of its e
aliina [53]

The Mexico NAFTA members benefited the most from this free trade agreement by securing preferential treatment for 80% of its exports.

NAFTA grow to be a landmark opportunity deal between Canada, Mexico, and America that took impact in 1994. It contributed to an explosion of exchange between the three nations and the mixture of their economies however have become criticized inside the united states of America. for contributing to process losses and outsourcing.

The correct solution is A) China. The North American unfastened change agreement, moreover called NAFTA, got here under pressure in 1994 and its crucial aim turned into selling, creating, and facilitating forex amongst Mexico, Canada, and the USA. consequently, China modified into now not protected in it.

U.S. farm exports to Canada and Mexico quadrupled from $eleven billion in 1993 to $ 40-three billion in 2016. 20 It made up 25% of usual meal exports and supported 20 million jobs. This change leveraged another $ fifty-four. 6 billion in enterprise funding. NAFTA improved farm exports because it eliminated immoderate Mexican price lists.

Learn  more about NAFTA here brainly.com/question/27372794

#SPJ4

5 0
1 year ago
What are 6 roles in the front of the house(restaurant)? listed in order from highest rank to lowest and why they're important.
CaHeK987 [17]

Answer:

does it need an attachment to it in order to answer it ?

Explanation:

5 0
2 years ago
A summary of selected ledger accounts appears below for Alberto's Plumbing Services for the current calendar year-end.
TiliK225 [7]

Answer:

a. $15,000

Explanation:

common stock:

12/31 = $8,500                    1/1 = $5,500

                                           12/31 = $15,000

retained earnings:

6/30 = $3,500                   12/31 = $15,000

11/30 = $5,000

Income Summary

12/31 = $18,500                 12/31 = $33,500

12/31 = $15,000

income summary closing accounts:

Dr Revenue 33,500

    Cr Income summary 33,500

Dr Income summary 18,500

    Cr Expenses 18,500

Dr Retained earnings 15,000

    Cr Income summary 15,000

net income = amount of income summary closed against retained earnings = $15,000

7 0
3 years ago
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