What Effect Will an Increase in the Demand for the Canadian

question 55

Multiple Choice

What effect will an increase in the demand for the Canadian dollar have?

• A)The exchange rate will fall and the quantity of dollars traded will fall.
• B)The exchange rate will fall and the quantity of dollars traded will rise.
• C)The exchange rate will rise and the quantity of dollars traded will fall.
• D)The exchange rate will rise and the quantity of dollars traded will rise.

---

Definitions:

Services Rendered

The provision of services to a customer or client, which can be invoiced once the service has been completed.

Subsidiary Ledger

A detailed ledger that contains all the transaction details of a specific account, which rolls up into the general ledger.

Controlling Account

A controlling account is a summary account in the general ledger that consolidates and reflects the total balance of all subsidiary accounts related to it.

General Ledger

The primary accounting record used to track all of a company's financial transactions, summarized from subsidiary ledgers.