The international monetary systems consists of
A. treaties among nations in trade blocks.
B. institutions, rules, procedures, and processes.
C. bilateral legal arrangements among nations and then, belief in the system.
D. relationships among sellers in the international market.
Answer: B
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The existence of subjectivity in an asset valuation does not necessarily mean the valuation will not be reliable. All of the following are examples of this except:
a. where historical cost is used for accounts receivable, fixed assets, and other assets with values that remain relatively stable. b. where market value is used for marketable equity securities, commodities, and financial assets are traded in liquid markets c. where historical cost is used for LIFO inventory layers where inventory has seen an inflationary increase in costs. d. where historical cost is used for internally generated intangible asset valuations.
In a purchase system, the most appropriate department to control goods upon arrival into the company is the
a. receiving department. b. treasury department. c. accounting department. d. requesting department.
Which of the following is an example of diversity?
a. A gymnasium that operates exclusively for women b. A religious cult c. A secular society d. All of the above
Top-Shelf Construction discovered that for every 1 percent decrease in its sales, its earnings before interest and taxes (EBIT) decrease by 3.2 percent. Based on this information, we know that Top-Shelf Construction has a:
A. debt/assets ratio equal to 3.2 times its debt/equity ratio. B. degree of operating leverage (DOL) equal to 3.2. C. current ratio (= Current assets/Current liabilities) equal to 3.2. D. degree of total leverage equal to 3.2. E. degree of financial leverage (DFL) equal to 3.2.