Which of the Following Is Not a Reason Why Residents

question 159

Multiple Choice

Which of the following is not a reason why residents of other countries desire to acquire dollars?

• A)foreigners need dollars to purchase U.S.goods and services
• B)dollars can be used as a safe way of storing value when the foreigner's own currency is unstable
• C)dollars are accepted as an international medium of exchange
• D)dollars can be used for cash gifts from foreigners to U.S.friends and relatives
• E)dollars are the only currency accepted in international transactions

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Definitions:

Cost Of Goods Sold

Direct costs associated with the assembly of products a company offers for sale, including labor and materials.

Operating Cycle

The duration it takes for a company to purchase inventory, sell products, and collect the cash from sales, measuring the efficiency of a business's cash flow.

Balance Sheet

A financial statement that reports a company's assets, liabilities, and shareholders' equity at a specific point in time, providing a basis for computing rates of return and evaluating its capital structure.

Income Statement

A financial statement that shows a company's revenues, expenses, and net income over a specific period of time.