Which of the following is NOT a motivation for a government or central bank to manipulate domestic currency valuation?
A) fight inflation
B) slow too rapid economic growth
C) spur too slow economic growth
D) All of the above are motivations for the government or central bank to manipulate currency values.
Answer: D
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To test the validity of a selection test for advanced widget designers, Apptastic administers the test to its current widget designers. The test results are then compared with existing measures of job performance. In this instance, what type of validation is being used by Apptastic?
A. concurrent validation B. diagnostic validation C. construct validation D. predictive validation E. content validation
Each of the following statements is justified by a concept or convention of accounting. Write the letter in the blank next to each statement corresponding to the concept or convention involved. a. Consistency d. Full disclosure b. Materiality e. Cost-benefit c. Conservatism _____ 1. This convention best enhances comparability of financial statements between years. _____ 2. A merger agreed on just
after the balance sheet date nevertheless is reported in the notes to the financial statements. _____ 3. A company forgoes hiring another full-time accountant, which would add only slightly to the financial statements' accuracy. _____ 4. A company uses lower-of-cost-or-market to value inventory. _____ 5. A large company rounds its financial statement figures to the nearest $10,000. Fill in the blank(s) with correct word
According to the concept of expense recognition under accrual-basis accounting, if costs associated with producing revenue in the current year are not paid in cash until the following year, the costs should be expensed in the current year.
Answer the following statement true (T) or false (F)
In one year, the Hotel by the Shore incurred $100,000 in fixed costs. Because the hotel booked 10,000 room nights, its total variable cost is $100,000 (10,000 room nights × $10 per room). Thus, its total cost is
A. $120,000. B. $100,000. C. $20,000. D. $200,000. E. $10,000.