The Market Consisting of All the World's Currencies That Are

question 28

Multiple Choice

The market consisting of all the world's currencies that are banked outside their countries of origin is called the ________.

• A) foreign exchange market
• B) interbank market
• C) Eurocurrency market
• D) offshore financial center

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Definitions:

Notes Payable

A formal written agreement to pay a specific amount of money on a certain date or upon demand to another party.

Salaries Expense

The total amount paid to employees for services rendered during a specific period, recorded as an expense on the income statement.

Supplies

Materials and items consumed or used in the operation of a business or manufacturing process that are not part of the final product.

Unearned Rent

Income received by a company for rent that has not yet been earned because the rental period has not occurred.