Answer:
Explanation:
Antonio used the value of money as a unit of account to compare the value of the two cars namely Super and Duper and come to the conclusion that Duper was cheaper to Super
Antonio saved $ 4000 in his checking account which he gave to the seller. This represent money's role as a store of value
Antonio write a check of the money he saved to the seller and the seller accepted it and gave him the car which fulfill the role of money as a medium of exchange.
Answer:
The correct answer is letter "B": Neither of them is correct, as determining the costs of the Act is possible, but determining the benefits is not fully possible.
Explanation:
The Sarbanes-Oxley (SOX) Act Of 2002 is a legislative response to several corporate scandals that sent shock waves through the world financial markets. The SOX attempts to strengthen corporate oversight and improve internal control. The main purpose of SOX is to protect shareholders from fraudulent representation in corporate financial statements.
In regards to the Roland Company case, the cost of implementing SOX will be a more strict accounting and financial book-keeping. This could provide the company with more accurate information that helps to make better corporate decisions but the benefits cannot be fully measured.
The question as to whether the costs or benefits of the Sarbanes-Oxley Act outweigh each other depends on the specific circumstances of the company and how one interprets these costs and benefits. Nevertheless, the Act is generally understood to enhance transparency, reduce fraud, and build investor confidence.
This is a subjective question as it pertains to the perception of costs and benefits under the Sarbanes-Oxley Act. One cannot definitively say if Ken or his boss is correct without having a complete picture of the Roland Company's financial situation and understanding of the Act's implications. However, the premise of the Sarbanes-Oxley Act is to increase transparency in financial reporting, reduce incidents of corporate fraud, and protect shareholders. While the act does impose significant administrative costs, many argue that its benefits in promoting investor confidence outweigh these costs. Thus, it could be argued that the views of Ken’s boss would align more with the overall objective of the Act.
Answer:
Yes but only $90,000
Explanation:
Answer:
Credit to cash for $332
Explanation:
The information above is broken down as;
Petty cash fund = $450
Accumulated receipts for delivery expenses = $68
Merchandise inventory = $227
Miscellaneous expenses = $37
Fund balance = $118
Hence;
The journal entry to record the reimbursement of the account is;
Delivery expenses account Dr. $68
Merchandise inventory account Dr $227
Miscellaneous expenses account Dr $37
To Cash account Cr $332
(Being the recording of cash reimbursement)
Answer:
True
Explanation:
Prices in a free market co-ordinate the buying and selling decisions in the market. In their rationing role, prices inform the distribution of goods and other resources throughout the economy. Prices motivate firms by acting as incentives that provide a standard of measure of value throughout the world. Prices direct producers and consumers, thereby acting as signals to educate producers and consumers on how to adjust their production and consumption decisions.
Answer:
Answer is explained in the attachment.
Explanation:
b. they help us determine how much a firm will produce and even how it will produce it.
c. cost curves tell us the profitability of the firm.
d. they help us understand the market that the firm is in.
Answer:
a. they tell us whether a firm is profitable or not.
Explanation:
The shape of a firms curve tells us if a firm is profitable or not. If the firm is charging a higher price that is greater than its average cost of production for whatever quantity that was produced, we will have it that this firm will earn profits. But when the price that the firm is charging is smaller than its average cost of production, the firm will experience losses.