Which of the Following Statements Is True Regarding Global Stratification

question 67

Multiple Choice

Which of the following statements is true regarding global stratification?

• A) Global stratification is stratification of individuals on the basis of public opinion only.
• B) Global stratification exists in most countries.
• C) Global stratification is a hierarchy of countries similar to stratification within countries.
• D) Global stratification is a recent phenomenon.

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Definitions:

Year-End Spot Rate

The exchange rate of one currency to another at the close of the last trading day of the financial year.

Historical Rate

The exchange rate used to convert foreign currency amounts involved in a transaction to the reporting currency based on the rate in effect at the time of the transaction.

Current-Rate Method

An accounting method used in translating the financial statements of a foreign subsidiary, where all current and non-current items are translated at the current exchange rate.

Functional Currency

The primary currency used by a business or entity in its daily operations.