There is method by which one currency is bought, sold or valued in terms of other currencies, gold or accounting units such as the Special Drawing Right of IMF. What is it called ?

Related Mcqs:

1. Term a country’s decision to tie the value of its currency to another country’s currency gold or a basket of currencies ?

   A. Pagged exchanged rate
   B. Fixed exchange rate
   C. Relative exchange rate
   D. Knotted exchange rate

2. If export contracts are written in terms of foreign currency and import contracts are denominated in domestic currency a depreciation of the dollar during the currency contract period ?

   A. should increase the dollar value of exports
   B. should not have any effect on the dollar value of U.S imports
   C. must increase the balance of trade
   D. All of the above

3. Which of the following is a form of international reserve assets, created by IMF in 1967 whose value is based on a portfolio of widely used currencies ?

   A. Special Drawing Right (SDR)
   B. IMF Drawing Rights (SDR)
   C. International Drawing Right (IDR)
   D. Sure, Drawing Rights (SDR)

4. What is called that bank which regularly accepts foreign currency-denominated deposits and makes foreign currency-denominated deposits and makes foreign currency loans ?

   A. Eurobank
   B. Foreign bank
   C. International Bank
   D. Multinational Bank

5. Currency that is expected to drop in value relative to other currencies is called ?

   A. Local currency
   B. Cold currency
   C. Lime currency
   D. Soft currency

6. Name the method of inventory accounting in which the oldest remaining items are assumed to have been first sold ?

   A. FIFO (first in first out)
   B. LAFO (last in first out)
   C. First come First serve
   D. None of these

7. The price of one country’s currency in terms of another country’s currency is the ?

   A. exchange rate
   B. balance of trade
   C. terms of trade
   D. currency validation

8. The price of one country’s currency in terms of another country’s currency is the ?

   A. exchange rate
   B. balance of trade
   C. terms of trade
   D. currency valuation

9. All currencies other than the domestic currency of a given country are referred to as ?

   A. hard currency
   B. foreign exchange
   C. reserve currencies
   D. near monies

10. An outside professional conducts an examination of company’s accounting records in order to determine whether the company is maintaining records according to the generally accepted accounting principles. What this examination is called ?

    A. Checking
    B. Audit
    C. Stock-taking
    D. Accounting