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Imagine that you are a jeepney driver in a world without money. Explain why it
would be tricky to obtain groceries, clothing, and a place to live.
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- Whether an asset is "liquid" often depends on what situation you are in. For each of the following pairs of assets, which is more liquid in the particular setting? A) You want to buy a sofa: A savings account or currency? B) You want to trade for a bologna sandwich in elementary school: A peanut butter and jelly sandwich or sushi? C) You want to buy a house: Currency or a checking account? D) You live in a post-apocalyptic wasteland: Rice or currency? E) You are traveling across Europe during the Middle Ages: Gold coins or works of art? F) You are an investment banker buying a corporation: U.S. Treasury bonds or currency?Think about the ease of moving money. Give four examples of how you might use ACH transactions. Besides convenience how might this benefit people? How we can use innovative methods of handling our money to benefit the economy at large?As a business administration student, why do you think that saving money is important?
- When it comes to financial planning, Karen is looking to understand what is meant by opportunity cost. I. What you give up as a result of a decision. II. Receiving the gift of a car from your parents. III. Your credit card. Select one: a. I and III, only b. II and III, only c. I only d. I and II, onlyWhat finances do you need to have to achieve getting somewhere with Cosmetology? For instance to build your own salon?One of your long-term customers asks if you can change the terms to FOB Destination to help them save money. Do you change the terms, why or why not? What positive and negative implications could this have for your business, and your customer? What, if any, restrictions might you consider if you did change the terms?
- The Coffee Can Accounting System In this problem you are the only owner. You are saving for a trip by putting your money into a coffee can. When it is time to take the trip, the coffee can is a little short of the cash you need for your trip. Your Grandma Smith and Grandma Jones loan the coffee can the additional cash you need for the trip. Your Grandmas do not charge any interest on the loans. After you return from your trip, you continue to put money into the coffee can from wages you earn from your summer job. You then pay your grandmas with cash from the coffee can. After paying off the loans there is some cash remaining in the coffee can, which you will use for a future trip. Use the forms in the Excel file Problem 1-1 Forms to complete this problem. Requirement 1 A. Label the accounting equation above the “T” accounts. B. You will utilize the following four accounts: Cash, Note Payable-Smith, Note Payable-Jones, and My Equity.. Label the four “T” accounts using these account…A good example of an alternative question is: A. “Why did you borrow the money?” B. “Will you repay the money now or late?” C. “Did you deliberately plan this, or did it just happen?” D. “What do you think happened to the money?”- (About the ease of moving money) Give four examples of how we might use ACH transactions. Besides convenience how might this benefit people? - How we can use innovative methods of handling our money to benefit the economy at large?
- If you were a wise credit card user, under which of the following conditions would you consider using a credit card to finance an expensive purchase? a. If I haven't reached my credit limit and I really want to item b.If I believe my money situation will be better (for example, a better-paying job) in the future than it is now. c.If I have the money to pay for the item in my bank account and plan to immediately pay the balance in full. d. If my card has good rewards on it.What can you do if you cannot pay your credit bills?What may a person lose in addition to the goods if she or he fails to keep up the payments on a personal loan?