In 2010, Tara used $50,000.00 from funds she had invested in certificates of deposit as a down payment to buy a house. What function did this portion of her investments serve when she made the down payment?A. unit of exchange.
B. medium of exchange.
C. store of value.
D. unit of account.

Answers

Answer 1

Answer:

Answer:

B. medium of exchange.

Explanation:

Money as a medium of exchange is used to facilitate the selling and purchasing of goods and services between parties. Money is widely accepted as a standard of value by parties engaged in the exchange of commodities. It means that one party readily accepts an amount of money in exchange for a product or service that is believed to be worth the amount on offer.

Tara is exchanging her $50,000 for the house. Although the money is only a down-payment, it gives her the right to claim ownership of the house. Once she has fully paid for the house using money, she can only lay a claim on the house, not the money.

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George owns Luxury Yacht Company and has just received an order for one of its luxury models. To protect his company against the possibility that the customer cannot pay or that other economic and political conditions might intervene, he asks the customer to provide a __________.

Answers

Answer: Letter of credit

Explanation:

The letter of credit is one of the type of payment process that is specifically used for the purpose of international trading as it helps in proving the economical guarantee from the bank to the trader of various type of goods and the services.

The letter of credit is also refers as the documentary based credit and also the guarantee undertaking letter which is used at the time of payment and the main advantage of the letter of credit is that it is highly customizable, safety business process, Payment assured and also free from all the types of credit risk.

According to the given scenario, George asked the customer for providing the letter of credit for the purpose of protect his company fro the various types of payment and economical issue.

Therefore, Letter of credit is the correct answer.

If your business operates in more than one state or in a large area, it's a good idea to register the trademark with what organization?

Answers

If your business operates in more than one state or in a large area, it's a good idea to register the trademark in USPTO.

USPTO stands for United States Patent and Trademark Office. Registering a Trademark ensures you that your trademark is unique. It is not used by any other business than yours. Registering your trademark will also protect you from emerging companies from using your trademark.

I just finished this quiz and the answer is, "USPTO"

What does reconciling an account involve?

Answers

Reconciling an account involves comparing and matching the financial records of an individual or organization with external statements, such as bank statements or supplier invoices, to ensure they align and resolve any discrepancies.

In the context of reconciling an account, discrepancies refer to differences or inconsistencies between financial records and external statements.

These discrepancies can include errors in recording transactions, missing entries, or discrepancies in amounts. The process of reconciling an account involves identifying and resolving these discrepancies by carefully comparing and matching the information from various sources.

By addressing discrepancies, financial records can be brought into alignment with external statements, ensuring the accuracy and reliability of the account's financial information and maintaining a clear and consistent financial record for reporting and analysis purposes.

Learn more about Reconciling here:

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Answer:

checking one's financial records against the bank’s

Explanation: <3

What does the term normal goods refers to?

Answers

Normal goods are any goods for which demand increases when income increases, and falls when income decreases but price remains constant, i.e. with a positive income elasticity of demand.

goods that consumers demand more of when their incomes increase

__________ is one of the key factors in effective teams.a. Building trust
b. A good leader
c. Clear rules
d. A goal handed down from upper management

Answers

All if the above are all good but i would say building trust is the most important i think is Teamwork

Give examples of three different economic freedoms in a free enterprise system.

Answers

Answer;
-Owning private property,
-being able to decide if you want to own property, and
- being able to price your items at the price you want them

Explanation;
Free enterprise system is a market driven economic system. the aspects of free enterprise that are free include; the choice of business that you want to start, the price you want to sell, the resources you wish to use, the people you want to hire and the choice of consumers.
The following rights must be protected for a free enterprise system to work;
-Free Contract
-Legal Equality
-Open Opportunity
-Private Property

Final answer:

Three examples of economic freedoms in a free enterprise system are the freedom to own private property, the freedom to makevoluntary exchanges, and the freedom to compete.

Explanation:

Three examples of economic freedoms in a free enterprise system are:

Freedom to own private property: This allows individuals to own and control their own assets and resources, such as land, buildings, and businesses.
Freedom to make voluntary exchanges: Individuals have the right to engage in transactions and trade with others freely, without interference from the government or other entities.
Freedom to compete: This means that individuals and businesses have the opportunity to enter and participate in the market, offering goods and services of their choice.