Flexible Credit Line (FCL)refers To

question 46

Multiple Choice

Flexible Credit Line (FCL) refers to:

• A)a system in which currencies float against one another with governments intervening only to stabilize their currencies at set target exchange rates.
• B)a negotiable certificate issued by a U.S.bank representing a specified number of shares (or one share)in a foreign stock that is traded on a U.S.exchange.
• C)a fast-disbursing loan facility with low conditionality aimed at reassuring investors by injecting liquidity.
• D)an international monetary reserve asset issued by the IMF.
• E)the main currency that many countries and institutions hold as part of their foreign exchange reserves.

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Definitions:

Purchase Price

The amount of money paid to buy goods or services.

Merchandise Inventory

Goods or products that a retailer or wholesaler has purchased and intends to sell to customers.

Periodic System

An inventory system where inventory levels are updated in the accounting records on a periodic basis, typically at the end of an accounting period, rather than after each purchase or sale.

LIFO Method

The "Last In, First Out" inventory valuation method, where the most recently produced items are recorded as sold first.