1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Dvinal [7]
2 years ago
10

In exchange for manufactured goods, Native Americans in the West often traded sheep. Cattle. Furs. Guns.

Business
1 answer:
Olenka [21]2 years ago
4 0

The correct statement is that the Native Americans used to exchange furs for manufactured goods. Such practice of goods in exchange for goods is known as barter system. So, the correct option is C.

Barter system is one of the oldest form of trade and exchange system that has been in existence even before the invention of currency for the purpose of exchange.

<h3>Barter System</h3>

  • The barter system refers to as a system under which goods and commodities are traded for the exchange of excess goods and commodities.

  • The barter system has its own discrepancies and faults as there was no specific medium of exchange and this necessity led to the invention of currency notes and coins.

  • The Native Americans were mostly Indians and carried hunting of animals and hence the furs obtained from animals was in excess with them and as a result, it was exchanged for finished goods.

Hence, the correct option is C that the Native Americans used furs for the exchange of manufactured goods during the days of barter exchange system.

Learn more about barter system here:

brainly.com/question/1888121

You might be interested in
Company X has 20M shares outstanding at $15 per share. Management has announced a 2 for 1 stock split. What would be the new mar
dlinn [17]

Answer:

$300 million

Explanation:

Data provided in the question

Number of shares outstanding = 20 million

Value per share = $15

So, by considering the above information, the new market cap of the company X is

= Number of shares outstanding × Value per share

= 20 million × $15 per share

= $300 million

To determine the new market cap, we simply multiplied the number of outstanding shares with the per share so that the exact value could come

         

8 0
2 years ago
The accountant for Walter Company is preparing the company's statement of cash flows for the fiscal year just ended. The followi
lapo4ka [179]

Answer:

$25,400

Explanation:

Equity which represents the amount owed to the owners of the business includes retained earnings (which is the accumulation of the net income/loss over the years less dividends paid) and common shares.

The movement in the retained earnings balance may be expressed as

Opening balance + net income - cash dividend paid = closing retained earnings balance

Cash dividend declared - Cash dividend paid =  Cash dividend payable

$49,000 - Cash dividend paid = $23,600

Cash dividend paid = $49,000 - $23,600

= $25,400

6 0
3 years ago
Which of the following is a characteristic of a competitive market?
myrzilka [38]
A) standardized product I think
6 0
3 years ago
Read 2 more answers
Lake Power Sports sells jet skis and other powered recreational equipment. Customers pay 1/3 of the sales price of a jet ski whe
vovangra [49]

Answer:

1) In 2010, Lake would recognize realized gross profit of:______.

a) $0.

Revenue for calculating gross profit is only recognized when the cost of goods sold (COGS) has been fully recovered.

2) In 2012, Lake would recognize a realized gross profit of:_______.

c) $450,000.

gross profit related to 2010 sales = $900,000 - $450,000 (remaining COGS) = $450,000

gross profit related to 2011 sales = $900,000 - $900,000 = $0

3) In 2013, Lake would record a lost on repossessions of:______.

c) $200,000.

4) In its December 31, 2011, balance sheet, Lake would report:_______.

b) installment receivables (net) of $900,000.

total installments receivables = $300,000 + $1,000,000 = $1,300,000

remaining COGS from 2011 sales = $400,000

installment receivables (net) = $1,300,000 - $400,000 = $900,000

5 0
3 years ago
The prisoner's dilemma game illustrates rational decisions made by individuals which lead to a jointly efficient outcome.
ad-work [718]
The statement that "<span>The prisoner's dilemma game illustrates rational decisions made by individuals which lead to a jointly efficient outcome" is false.

</span><span>The prisoner's dilemma is a standard example of a game analyzed in game theory that shows why two completely "rational" individuals might not cooperate, even if it appears that it is in their best interests to do so.</span>
8 0
3 years ago
Other questions:
  • Benji works for a private firm that has been contracted to examine the books of accounts of the sanborn corporation. after she h
    7·1 answer
  • b) IKEA is also very "IKEA-centric." For example, the IKEA store itself will be laid out as a maze that requires customers to wa
    11·1 answer
  • Lower inventory levels Group of answer choices make processes less dependent on each other while revealing bottlenecks more quic
    11·1 answer
  • A consumer is consuming at a point on her budget line. Her income is $50 a week, and she purchases hamburgers and grilled cheese
    11·1 answer
  • The cost for a carton of milk is $3, and it is sold for $5. When the milk expires, it is thrown out. You also know that the mean
    13·1 answer
  • Marble Construction estimates that its WACC is 10 percent ifequity comes from retained earnings. However, if the company issuesn
    9·1 answer
  • Luxton Ltd. signed a $378,000, 5-year note payable to buy a new machine. Luxton paid $6,000 cash for transportation of the machi
    9·1 answer
  • Which of the following is a function of a commercial bank? *
    15·1 answer
  • Teleology is a philosophy that states that _______.
    6·1 answer
  • Which of the following is true for project manager that work in a specific industry?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!