The Value of a Foreign Currency Is

question 20

Multiple Choice

The value of a foreign currency is:

• A)stable,since values are determined by the marketplace.
• B)not subject to determination except at the specific time at which a transaction in the currency occurs.
• C)subject to change depending on whether it is a pegged or floating currency.
• D)subject to change and determined by forces of supply and demand.

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Definitions:

Custodian

A custodian is a person or organization that has responsibility for or takes care of something, such as managing and safeguarding assets.

Minor

A person under the age of legal adulthood, often defined as 18 years, but the age can vary depending on the jurisdiction.

Act

In legal terms, an act refers to a statute or law passed by a legislative body at the federal, state, or local level.

Bailment

is the process of placing personal property or goods in the temporary custody or control of another, often for a specified purpose.