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3 years ago

What is a Legal tender plsss

Business

2 answers:

Kipish [7]3 years ago

8 0

Coins or Bank notes that must be excepted if offered and payment of a debt

olchik [2.2K]3 years ago

7 0

Answer:

Legal tender is something which is acknowledged by the laws as a mechanism to settle a private or public debt or in order to meet a fiscal responsibility which includes paying taxes, abiding by contracts, and finally damages or fines. Almost every country uses its national currency as legal tender.

Creditors are lawfully responsible for accepting legal tender for the repayment of debt that they have availed.

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French and German farmers wanting to buy equipment from an American manufacturer based in the U.S. will be: A) Demanding dollars

shepuryov [24]

Answer:

C) Supplying euros and demanding dollars in the foreign exchange market.

Explanation:

Foreign exchange market can be defined as type of market in which the currency of one country is converted into that of another country.

For example, the conversion of dollars of the United States of America can be converted into naira (Nigeria) at the foreign exchange market.

Hence, French and German farmers wanting to buy equipment from an American manufacturer based in the U.S. will be supplying euros and demanding dollars in the foreign exchange market because the medium of exchange (legal tender) in France and Germany is the "Euros" while it is "Dollars" in the United States of America.

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3 years ago

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3 years ago

Read 2 more answers

According to the definitions of national saving and private saving, if Y, C, and G remained the same, an increase in taxes would

Viefleur [7K]

Question options :

a. raise both private and public saving.b. raise private saving and lower public saving.c. lower private saving and raise public saving.d. lower private and public saving.

Answer:

c. lower private saving and raise public saving.

Explanation:

National saving is total of private and public saving minus the country's consumption and government expenditure.

Private saving is income from households minus consumption and taxes.

Formula for public saving is T − G − TR which is government budget surplus through revenue from tax. This is revenue from tax minus government expenditure and transfers.

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3 years ago

The amount of joint costs allocated to product DBB-1 using the sales value at split-off method is (calculate all ratios and perc

kobusy [5.1K]

Answer:

$2,213,640

Explanation:

Calculation for the amount of joint costs allocated to product DBB-1 using the sales value at split-off method

First step is to calculate the total amount

DBB-1= 16,000 units *$25

DBB-1= 400,000

DBB-2= 24,000 units *$35

DBB-2= 840,000

DBB-2= 36,000 units *$55

DBB-2= 1,980,000

Total =3,220,000

(400,000+840,000+1,980,000)

Second step is to calculate the Weight for DBB-3

Weight for DBB-3= 1,980,000 / 3,220,000 Weight for DBB-3=61.49%

Now let calculate the Joint cost for DBB-3

Joint cost for DBB-3=$36,00,000*61.49%

Joint cost for DBB-3=$2,213,640

Therefore The amount of joint costs allocated to product DBB-1 using the sales value at split-off method is $2,213,640

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4 years ago

Gross primary productivity is higher than net primary productivity. The difference between the two is

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3 years ago

What is a Legal tender plsss​

What is a Legal tender plsss