Which of the Following Are True Statements About the Bretton

question 52

Multiple Choice

Which of the following are true statements about the Bretton Woods system?

• A) The Bretton Woods system was a flexible exchange rate regime, in which central banks allowed their currencies to float within a wide trading band.
• B) The U.S. dollar was called a reserve currency because it was used to denominate the securities central banks held as international reserves.
• C) The Bretton Woods agreement broke down in 1945.
• D) Only A and B of the above are true.

---

Definitions:

Direct Labor Cost

The total expense for human labor directly involved in the production of goods or services.

Dismissing Managers

Dismissing managers involves the process of formally removing a manager from their position, usually due to underperformance, misconduct, or organizational restructuring.

Budget Process

The systematic approach organizations use to estimate their future revenues and expenses, resulting in a budget which guides their financial planning.

Formal Written Statement

A documented declaration or report that is officially prepared and presented for a specific purpose.