Which of the Following Was NOT a Result of the Smithsonian

question 87

Multiple Choice

Which of the following was NOT a result of the Smithsonian Agreement?

• A)revaluation of currencies other than the dollar against gold
• B)establishment of par values the quota system
• C)devaluation of the dollar against gold
• D)widening of exchange-rate flexibility

---

Definitions:

Periodic Inventory Method

An accounting approach where inventory is physically counted at specific intervals to determine the cost of goods sold and ending inventory levels.

Beginning Inventories

Beginning inventories are the value of a company's inventory at the start of an accounting period, serving as a basis for determining the cost of goods sold.

Ending Inventories

The final value of goods available for sale at the end of an accounting period, calculated through physical count or estimation.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including material costs and direct labor.