Match Each Term with Its Correct Definition

question 196

Multiple Choice

Match each term with its correct definition.
-An accounting field that is required to follow Generally Accepted Accounting Principles.

• A)Organizational chart
• B)Financial accounting
• C)Line position
• D)Managerial accounting
• E)Planning
• F)Directing
• G)Controlling

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Definitions:

Gold Standard

A monetary system where a country's currency or paper money has a value directly linked to gold, ensuring that the government could redeem any amount of paper money for its value in gold.

Federal Reserve Board

The governing body of the Federal Reserve System, responsible for overseeing the United States' central banking system.

Bretton Woods Agreement

An agreement established in 1944 that set up international financial institutions including the International Monetary Fund (IMF) and the World Bank, and established rules for commercial and financial relations among the world's major industrial states.

Devaluation

A deliberate downward adjustment to the value of a country's currency relative to another currency, group of currencies, or standard.