Since the Advent of Flexible Exchange Rates, World Trade Has

question 40

True/False

Since the advent of flexible exchange rates, world trade has not only continued but also expanded.

---

Definitions:

Bank Service Charge

Fees charged by a bank for the maintenance of account services and other banking transactions.

Bank Reconciliation

The process of matching and comparing figures from the accounting records against those shown on a bank statement to ensure consistency.

Subsidiary Ledger

A detailed ledger that contains all the transaction details of a specific account, which then summarizes into a general ledger.

Internal Control

The procedures and measures implemented by a company to safeguard assets, ensure accuracy in financial reporting, and comply with laws and regulations.