____________ is anything generally accepted as a means of paying for goods and services and for paying off debts. It must be easily divisible, so that exchanges can take place in small or large quantities; relatively inexpensive to store and transfer; and reasonably stable in value over time.

Jack, an employee of Desert Sky, Inc, has gross salary for May of $16,000

The entire amount is under the OASDI limit of $117,000 and thus subject to FICA. He is also subject to federal income tax at a rate of 24%. Which of the following is a part of the journal entry for accrual of the employer payroll taxes? (Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%.) Jack's income to date exceeds the FUTA and SUTA tax income limits. A) credit to Salaries Payable for $16,000 B) debit to Cash for $11,256.00 C) debit to Employee Income Taxes payable of $3,840.00 D) credit to FICA-Medicare Taxes Payable of $232.00

Which of the following would NOT be a consumer's reference price?

A) the advertised price per month B) the actual future price C) a price the consumer remembers D) a posted "regular retail price" E) the manufacturer's suggested price