Recently the Canadian Dollar Realized an Unexpected Appreciation in Value

question 33

Multiple Choice

Recently the Canadian dollar realized an unexpected appreciation in value. Which of the following actions being considered by Tall Timber Exports, a Canadian logging firm specializing in exporting raw forest products, would be considered a highly unlikely response to the appreciation of the Canadian dollar?

• A) Tall Timber Exports might lower export prices in an effort to maintain market share.
• B) Tall Timber Exports might raise export prices only slightly in an effort to increase market share.
• C) Tall Timber Exports might leave export prices as they are and wait to determine what actions to take if any in the future.
• D) all of the above

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Definitions:

Controls

Procedures or policies implemented by a company to safeguard its assets, enhance the reliability of its accounting records, increase efficiency, and ensure compliance with laws and regulations.

NSF Check

a check that has been returned by a bank because the account it was drawn on does not have sufficient funds.

Bank Reconciliation

The process of matching and comparing figures from accounting records against those presented in a bank statement to find discrepancies.

Internal Control

A system of policies and procedures implemented by an entity to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.