How Is Responsibility for Monetary Policy Set Forth in Canada

question 56

Multiple Choice

How is responsibility for monetary policy set forth in Canada?

• A)The Canadian Government administers monetary policy through the office of the Minister of Finance.
• B)The Bank of Canada administers monetary policy as directed by the Minister of Finance.
• C)The Bank of Canada Act places responsibility for the conduct of monetary policy on the Bank's Governing Council.
• D)The Prime Minister bears ultimate responsibility for monetary policy.
• E)Both B and D

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Definitions:

Present Obligations

Current commitments arising from past events, expected to lead to an outflow of resources embodying economic benefits.

Past Transactions

Financial activities or deals that have been completed in the past, impacting the financial position of a business.

Direct Method

A cash flow statement approach that lists major categories of gross cash receipts and payments, providing a clearer view of a company's cash flow from operational activities.

Cash Flow Statement

A financial report that provides aggregate data regarding all cash inflows a company receives from its ongoing operations and external investment sources, as well as all cash outflows that pay for business activities and investments during a given period.