When early settlers needed to buy farming equipment and supplies, they often would use the milk, eggs, and crops their farms produced as currency. As it pertains to money, this scenario depicts

A) using materials that have their own value to society as money.

B) using unlimited-supply commodities as money.

C) using "IOUs" as money.

D) bartering unlimited goods for limited goods.

E) bartering unlimited goods for other unlimited goods.

Personal financial planning is the process of creating and achieving financial goals? true or false

Trecek corporation incurs research and development costs of $625,000 in 2017, 30 percent of which relate to development activities subsequent to ias 38 criteria having been met that indicate an intangible asset has been created. the newly developed product is brought to market in january 2018 and is expected to generate sales revenue for 10 years. assume that a u.s.–based company is issuing securities to foreign investors who require financial statements prepared in accordance with ifrs. thus, adjustments to convert from u.s. gaap to ifrs must be made. ignore income taxes. required: (a) prepare journal entries for research and development costs for the years ending december 31, 2017, and december 31, 2018, under (1) u.s. gaap and (2) ifrs. (c) prepare the entry(ies) that trecek would make on the december 31, 2017, and december 31, 2018, conversion worksheets to convert u.s. gaap balances to ifrs.

Which represents a surplus in the market? a market price equals equilibrium price. b quantity supplied is greater than quantity demanded. c market price is less than equilibrium price. d quantity supplied equals quantity demanded.