Money Is

question 56

Multiple Choice

Money is

• A) the same as income.
• B) all financial assets.
• C) any asset used to make purchases and to settle debts.
• D) the sum of assets minus liabilities.
• E) the market value of all final goods and services produced in a country in a year.

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Definitions:

Exchange Gain

A profit resulting from holding foreign currencies that appreciate against the home currency.

Financial Statements

Official records of the financial activities and position of a business, person, or other entity, presented in a structured manner.

Spot Rate

The current price in the foreign exchange market at which a currency can be bought or sold for immediate delivery.

Forward Rate

The agreed-upon exchange rate for a currency or commodity to be delivered and paid for at a future date.