Why Is the Current Foreign Exchange System Thought of as a Dirty-Float

question 1

Multiple Choice

Why is the current foreign exchange system thought of as a dirty-float system?

• A)Because of the frequency of government intervention in the foreign exchange market
• B)Because of the extreme volatility in the foreign exchange market
• C)Because it is essentially a system of fixed foreign exchange rates
• D)Because of absolute government control of exchange rates

Apply the net method for recording purchases in a periodic inventory system.

Apply the gross method for recording purchases in a periodic inventory system.

Understand the implications of terms such as 2/10, n/30 on transactions.

Describe the process of preparing and canceling vouchers in accounting transactions.

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