The Bretton Woods Agreement Set Up the ________,Which Currently Provides

question 33

Multiple Choice

The Bretton Woods agreement set up the ________,which currently provides long-term loans to assist developing countries to build dams,roads,and other physical capital that contributes to economic development.

• A) International Monetary Fund
• B) World Bank
• C) Central Settlements Bank
• D) Bank of International Settlements
• E) European Exchange Rate Mechanism (ERM)

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Definitions:

Recording Process

The systematic method of documenting business transactions in the accounting records in a chronological order.

Journal

A detailed record where all financial transactions of a business are initially recorded before being transferred to accounts in the general ledger.

Ledger

A comprehensive collection of all the accounts of a business, where transactions are recorded in a structured and detailed manner.

Income Statement

A financial statement that shows a company's revenue and expenses over a specific period, usually resulting in a net profit or loss.