In "Closing the Gold Window" in 1971, President Nixon

question 184

Multiple Choice

In "closing the gold window" in 1971, President Nixon

• A)did both d and e
• B)did all of the following
• C)refused to exchange gold for dollars
• D)forced the dollar to appreciate
• E)called in all gold circulating domestically

---

Definitions:

Perpetual Inventory System

An inventory accounting system that records purchases and sales of goods instantly through computer systems, providing a continuous record of inventory levels.

Inventory Shrinkage

The loss of products between procurement and sale, often due to theft, damage, or administrative errors, affecting inventory levels.

Sales Discounts

A reduction in the price of goods or services offered to customers, typically as an incentive to encourage prompt payment.

Normal Debit Balance

Refers to the expected balance of an account based on its classification in the accounting system, where assets and expenses typically have a debit balance.