What Is the Name of the Unit of Account Created

question 27

Multiple Choice

What is the name of the unit of account created by the IMF which is sometimes used to denominate contracts?

• A) European currency unit
• B) special drawing right
• C) floating currencies
• D) basket of currencies

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Definitions:

Cash Balance

The amount of cash or cash equivalents a company or individual possesses at any given time.

Disbursements

The act of paying out or distributing money, often by a business for various expenses.

Equipment Account

An account that tracks the cost of equipment a company owns, minus any accumulated depreciation.

Liability Account

An account that records obligations or amounts owed to others that will require a future outflow of resources.