Which One of These Statements Related to the Foreign Exchange

question 77

Multiple Choice

Which one of these statements related to the foreign exchange market is correct?

• A)Currency trading floors are operated by the central bank of each country.
• B)The primary currency trading floor is located in London.
• C)The foreign exchange market is second in size as a financial market only to the New York Stock Exchange.
• D)Currency trading floors are located in all the major financial centers of the world and operated by commercial banks.
• E)SWIFT is a means of handling foreign currency transactions that is sponsored by a Belgian cooperative.

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Definitions:

Balance Sheet Debit

An entry on the left side of a balance sheet, typically indicating an increase in assets or a decrease in liabilities or equity.

Net Income

Profits after subtracting all costs, including operating expenses, interest, and taxes, from total revenue, indicating the final earning outcome of a business.

Adjusted Trial Balance

A financial report that lists all the account titles and balances of a company after adjusting entries are made, used for the preparation of financial statements.

Unadjusted Trial Balance

A preliminary report in accounting that lists all the balances from all the accounts before any end-of-period adjustments are made.