If the U.S.demand for British Pounds Increases,then:​

question 6

Multiple Choice

If the U.S.demand for British pounds increases,then:​

• A)the dollar price of British pounds will increase.
• B)the dollar price of British pounds will decrease.
• C)the exchange rate between dollars and pounds will be less than the equilibrium exchange rate.
• D)the pound will fall in value vis-à-vis the dollar.
• E)there will be no change in either the value of the dollar or the pound.

---

Definitions:

End-of-Year Spreadsheet

A document summarizing financial and accounting information at the conclusion of the fiscal year, aiding in analysis and decision-making.

Adjusted Trial Balance

A report that lists all the accounts and their balances after adjustments, used to ensure the total debits equal total credits before generating financial statements.

Closing Entries

Transactions noted at the end of an accounting cycle for the purpose of transferring balances from temporary accounts to their permanent counterparts.

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, thereby resetting the temporary accounts for the next period.