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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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Corporate executives at LikeReal, Inc. decide to compete in the remote model airplane industry by making the largest model plane
steposvetlana [31]

Answer:

Business strategy

Explanation:

The idea to compete in a remote model air-plane industry is a part of the business strategy of like real.  This is a business strategy because the decision has been made to compete in an industry to gain more customers and to improve their share in the market.  It will also help like real to strengthen their performance and organisational goals.

5 0
3 years ago
The following are the cash flows for each of the independent cases. Case 1 Case 2 Case 3 Cash provided by (used for) operating a
Travka [436]

Answer and Explanation:

The classification is as follows

For case 1

It is a growing start-up company (S) with the following reasons

a. The cash flow from operating activities is very less as compared to the financing and investing activities

b. It is a start company so in this case the financing and investing activities are more

c. Moreover, the beginning cash balance is also less

For case 2

It is an established company facing financial difficulties (F) with the following reasons

a. The operating activity is in a negative amount

b. It is an established company so it facing a lot of difficulties

c. Net cash flow is also in negative

For case 3

It is a healthy established company (E) with the following reasons

a. The operating activity is in a positive amount

b. Since it is a healthy established company so it shows the positive net cash flow and strong cash position

6 0
3 years ago
Which of the following will increase a company’s current liabilities? You may select more than one answer.
vichka [17]

Answer:

A company purchases inventory on credit.

Explanation:

Current liabilities are those that have to be settled within the fiscal year. The statement above does not specify if the credit has to be paid within the fiscal year, but most likely it has to, because inventories do not usually represent a long-term debt.

So under this sceneario, purchasing inventory on credit would represent an increase in the current liabilities of the firm.

8 0
3 years ago
You are the boat operator. when are you required to assist anyone injured in an accident?
trapecia [35]
As a boat operator, the law make it mandatory that you should stop and assist other boaters who are involves in accidents if there is no danger to you, your passengers or your boat. People who render assistance at boat accident scenes are not hold liable for any civil damage because of the assistance they render.
6 0
3 years ago
Would loaning a friend $10 to buy a movie ticket be an investment? Why or why not
Luden [163]

Answer:

no

Explanation:

An investment is an asset or item that is purchased with the hope that it will generate income or appreciate in the future.

3 0
3 years ago
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