The Accounting Book or Computer Program Where Each Day's Transactions

question 359

Multiple Choice

The accounting book or computer program where each day's transactions are first recorded is called a

• A) posting workbook.
• B) general ledger.
• C) balance sheet.
• D) journal.

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Definitions:

Fixed Exchange-rate System

A currency value regime where a country's currency is pegged at a set value to another currency, a basket of currencies, or a commodity like gold.

Foreign Exchange Market

A global decentralized or over-the-counter market for trading currencies, facilitating international trade and investment.

Peg

Fixing the exchange rate of a currency by linking it to another currency or basket of currencies.

Fixed Exchange Rates

A currency system where the value of a country's currency is pegged to another currency, a basket of currencies, or a commodity like gold, minimizing fluctuations in exchange rates.