The Government of Beryllia Tightly Controls the Ability of Its

question 87

Multiple Choice

The government of Beryllia tightly controls the ability of its residents to convert its currency into other currencies.However,all foreign businesses with deposits in banks of Beryllia may,at any time,convert all their currency into foreign currency and take them out of the country.Beryllia's currency is said to be

• A)leading.
• B)nonconvertible.
• C)externally convertible.
• D)freely convertible.
• E)lagging.

---

Definitions:

Corporation

A legal entity that is separate and distinct from its owners, capable of conducting business, owning property, and being liable for legal actions.

Shareholders

Individuals or entities that own one or more shares of stock in a corporation, making them the owners of the corporation to the extent of the shares they hold.

Sole Proprietorship

A business in which one person (sole proprietor) is in control of the management and profits.

Management

The process of planning, organizing, leading, and controlling resources to achieve organizational goals.