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mart [117]
3 years ago
11

Which one of the following is not a function of​ money? A. Medium of exchange. B. Store of value. C. Open market operation. D. U

nit of account. If something is to be considered as​ money, it has to fulfill ▼ only the medium of exchange function any three functions all four functions .
Business
1 answer:
Lisa [10]3 years ago
3 0

Answer:

The correct answer is C

Explanation:

Money is the term which is described as something which serves as exchange medium, store of value and a unit of accounting. It is a exchange medium in the terms, that the person will agree to receive it by making a transaction.

In short, when depositing the money into any financial institution like banks, then this states the store of value function of the money.

Therefore, the one which is not the function of money is that it has the operations in the open market.

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On January 1, 2020, Cheyenne Company purchased 40% of Santos Corporation 465,000 outstanding shares of common stock at a total c
d1i1m1o1n [39]

Solution :

The following journal entry will be prepared to record the transactions

Date          General Journal                                 Debt($)                  Credit($)

Jan 1    Investment in Cheyenne Co.               2,418,000

             (465,000 x 40% x $13)

           Cash                                                                                         2,418,000

Oct. 25  Cash (465,000 x 40% x $0.4)             74,400    

             Investment in Cheyenne Co.                                                 74,400

Dec 31   Investment in Cheyenne Co.               373,600

               ($934,000 x 40%)  

              Equity income in Cheyenne Co.                                           373,600

4 0
3 years ago
Scarbrough Corp. factored $600,000 of accounts receivable to Duff Corp. on October 1, year 2. Control was surrendered by Scarbro
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Answer:

c.$538,685

Explanation:

Calculation to determine what Scarbrough will receive and record cash of

Receivables $600,000

Less: Amount of the hold back ($30,000)

($600,000 x 5%)

Less: Withheld as fee income ($18,000)

($600,000 x 3%)

Less: Withheld as interest expense ($13,315)

($600,000 × 15% × 54/365)

Cash $538,685

Therefore Scarbrough will receive and record cash of: $538,685

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Help please: Free rein leaders can be described as ____
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A style of leadership in which leaders are hands-off and allow group members to make the decisions.
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Answer:

cash flow statement

Explanation:

because it determines the inflows and outflows of the business

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Which best describes the difference in the duties of restaurant employees who work inside and outside a kitchen?
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Answer: D is the correct answer

Explanation:

3 0
3 years ago
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