Every Time a Firm Changes Cash from One Currency into Another

question 43

Multiple Choice

Every time a firm changes cash from one currency into another currency it must bear a(n) _____.

• A) transaction cost
• B) tax
• C) transfer fee
• D) audit

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Definitions:

Legal Principles

Fundamental norms, rules, or doctrines that guide the practice of law and ensure fairness and justice in legal processes.

Stare Decisis

A legal doctrine that obligates courts to follow historical cases when making a ruling on a similar case.

Efficiency

The degree to which an entity effectively uses resources to achieve desired outcomes with minimal waste or effort.

Consistency

The quality of being uniform, coherent, and stable in behavior or performance over time.