International Business: Competing in the Global Marketplace
11th Edition
ISBN: 9781259578113
Author: Charles W. L. Hill Dr, G. Tomas M. Hult
Publisher: McGraw-Hill Education
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Chapter 5, Problem 4CDQ
Summary Introduction
Case summary:
Bitcoin is digital currency introduced to everyone in the year 2009 by its developer Person SN. It allows instant peer-to-peer transfer all over the world with minimum expense. There are also ethical concerns along with the growing popularity of the digital currency.
There are practically no regulations for bitcoin. Bitcoin is not backed by any commodity such as gold or silver. It is generated by mining. Bitcoin is a finite supply of currency which will wind down in the year 2140. Bitcoin has also come under scrutiny because of the danger that it can also be utilized for illegal activities.
To explain: If bitcoins were created to destroy money-lending banks or central banking.
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general account
Bedrock Company reported a December 31 ending inventory balance
of $412,000. The following additional information is also available:
-The ending inventory balance of $412,000 included $72,000 of
consigned inventory for which Bedrock was the consignor.
-The ending inventory balance of $412,000 included $22,000 of office
supplies that were stored in the warehouse and were to be used by the
company's supervisors and managers during the coming year.
Based on this information, the correct balance for ending inventory on
December 31 is:
A) $362,000
B) $390,000
C) $412,000
D) $318,000
E) $340,000
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International Business: Competing in the Global Marketplace
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