The Given Statement is TRUE. Banks helped international trade by allowing merchants access to money in different locations.
<h3>
What is International Trade?</h3>
International Trade is the exchange of goods and services across international borders. It usually comes with additional risks caused by changes in exchange rates, government policies, laws, judicial systems, and financial markets.
International trade drives a country’s growth. Import-export figures are one of the top contributors to a country’s gross domestic product. Thus, every country tries to strengthen its global trade relationships with world leaders.
<h3>What is the role of the banks in International Trade?</h3>
Banks facilitate international trade by providing financing and guarantees to importers and exporters. While access to external funds is important for domestic production, it is especially important for exporting firms.
<h3>What did a Merchant do?</h3>
Merchants were those who bought and sold goods, while landowners who sold their own produce were not classed as merchants.
Thus, we can conclude that the above statement is TRUE.
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<u>Answer:
</u>
Out of the following positions, the position of the factory supervisor would have a salary or wage that is classified as a factory overhead cost by a baking company.
<u>Explanation:
</u>
- For a baking factory, professionals like a baker, a salesman, or the president of the company are mandatory to have.
- The need for a factory supervisor arises only if it is devised or felt that the employees would not work properly if they are not monitored.
- If such a need is not felt anymore, the salary of the factory supervisor would be considered as an overhead cost by the company.
Answer
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
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Answer:
Manufacturing Cost = 94,100
Explanation:
Given that,
Direct materials used = $ 20,500
Direct labor used = 26,000
Factory overhead = 47,600
Beginning work in process = 12,200
Ending work in process = 12,800
Manufacturing Cost = Direct Material + Direct Labor + Factory Overhead
Manufacturing Cost = $20,500 + 26,000 + 47,600
Manufacturing Cost = 94,100
Answer:
$57,925
Explanation:
n = 8 years
i/r = 6.5%/year
PV = $35,000
The amount in 10 years (FV) = 35,000 x (1+0.065)^8 = $57,925