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Iteru [2.4K]
2 years ago
3

A survey conducted by American Express in 2015, found that 23% of American adults "hide bills in a secret location at home." a.

When people keep their currency for the purpose of saving it, money performs the following function: Money held within your home is easy to spend, so it functions as a medium of exchange. People are holding money for future use, so the money is functioning as a store of value. Since the hidden money is not reflected on tax returns, the money will function as a separate unit of account. A person's money is easier to count this way, so the money is a unit of account. b. Which of the following should be a concern to individuals who keep large amounts of currency hidden in their home:
Business
1 answer:
Tanzania [10]2 years ago
7 0

<u>Solution and Explanation:</u>

(a) People are keeping their currency notes hidden as a source of saving.

This saving can be used in future for any purpose. So, they are storing the purchasing power for future. When the money is stored as the purchasing power for the future, it serves as store of value. So, People are holding money for future use, so the money is functioning as a store of value.

Hence, the correct answer is the option (3).

(b) When a person keeps his money as currency at home and do not invest it in interest bearing instruments then in real terms the value of currency declines.

So, The money will lose its real value due to inflation as no interest is earned as hidden money.

Hence, the correct answer is the option (2).

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On may 1, the cash account balance was $72,600. during may, cash receipts totaled $345,600 and the may 31 balance was $95,230. d
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<span>$322,970 The expression for the cash balance at the end of the month is B = I + R - P where B = Balance at the end of the month. I = Initial balance at the beginning of the month. R = Receipts received during the month. P = Payments made during the month. So let's substitute the known values we have and solve for P B = I + R - P 95230 = 72600 + 345600 - P 95230 = 418200 - P 95230 + P = 418200 P = 322970 So the cash payments made were $322,970</span>
4 0
2 years ago
Gus takes his $15 in lemonade stand earnings and deposits it into his savings account. Meanwhile, Gus’s dad borrows $20,000 to b
tresset_1 [31]

Answer:

<u>liability</u>, <u>asset </u>

Explanation:

Liability refers to a future obligation in monetary form which must be discharged by a business. Liabilities are classified on the basis of due period into current and long term. For instance payment due to a supplier, loan for repayment.

Assets on the other hand refer to something which yields future economic benefits. Assets could be in tangible fixed form, movable form or intangibles such as Goodwill.

In the given case, from the purpose of bank, acceptance of deposits constitutes a liability since the bank has to pay such deposits whenever required by the customer.

Similarly, lendings by a bank represent an asset since the bank would receive such sum coupled with interest at a future date.

8 0
2 years ago
What do you think policymakers expected would happen when they deregulated the trucking industry?
monitta

Deregulation is the process of taking government power out of a particular industry.  If there were deregulations within the trucking industry there would be more competition within.  Not only that, there would be less rules to make sure the truckers are following their weight limited, aren't carrying things that they shouldn't be or are illegal. if the trucking industry was not regulated there would be a tougher time in making sure stores were delivered goods as needed.

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To survive and​ prosper, a business must gain and sustain​ ______ major competitive advantages over rival firms. A. as many as o
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C. <u>at least several</u>

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Competitive advantage refers to a favorable situation or position a business enjoys over it's competitors owing to it's specialization or strength in performing a specific operation.

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2 years ago
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Answer:

Directive PMO

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