In the Determination of the Functional Currency, the Currency That

question 22

Multiple Choice

In the determination of the functional currency, the currency that mainly influences labour, material and other costs of providing goods or services is a(n) _________________ indicator.

• A)primary.
• B)secondary.
• C)additional.
• D)presentation.

---

Definitions:

Consumer Surplus

The variance between the sum consumers are ready and financially able to spend on a product or service and the sum they actually spend.

Excise Tax

A tax levied on specific goods or services, such as alcohol, tobacco, and gasoline.

Elastic Supply

A situation where the quantity supplied of a good changes significantly in response to changes in its price.

Elastic Demand

a situation where the quantity demanded of a good or service significantly changes in response to a change in price.