If the Dollar Depreciates Relative to the Pound, Then the Pound

question 46

Multiple Choice

If the dollar depreciates relative to the pound, then the pound:

• A)will be less expensive to Canadians.
• B)may either appreciate or depreciate relative to the dollar.
• C)will appreciate relative to the dollar.
• D)will depreciate relative to the dollar.

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Definitions:

Correcting Entries

Adjustments made in accounting records to amend errors or omissions.

General Journal

A fundamental accounting document where all kinds of financial transactions are initially recorded before they are transferred to specific accounts in the ledger.

Special Journal

A type of accounting journal designed for recording a specific type of transaction in a more efficient manner.

Sales Journal

A specialized accounting journal that records all credit sales transactions of a business.