The Intervention Currency of the Bretton Woods System Was

question 8

Multiple Choice

The intervention currency of the Bretton Woods system was

• A) the West German mark.
• B) the U.S. dollar.
• C) the British pound.
• D) a predetermined mutual fund of major currencies.
• E) the Special Drawing Rights of the World Bank.

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Definitions:

Depreciation Expense

The allocation of the cost of a tangible asset over its useful life, reflecting wear and tear or obsolescence.

Direct Method

A cash flow statement presentation that lists specific types of cash receipts and payments, used to reveal actual cash flow activities.

Accounts Receivable

Indicates the funds to be received by a business for credit sales made to customers, reflecting potential income.

Direct Method

A cash flow statement calculation method that lists the major operating cash receipts and payments, showing direct cash flows from operating activities.