Which of the Following Currencies Was Introduced by the European

question 58

Multiple Choice

Which of the following currencies was introduced by the European Union?

• A) Deutsche Mark
• B) Euro
• C) Franc
• D) Pound

---

Definitions:

Accrual Basis

An accounting method where income and expenses are recorded when they are earned or incurred, regardless of when the cash is received or paid.

Cash Basis

An accounting method where revenues and expenses are recorded only when cash is received or paid out.

Accounting

The systematic process of recording, summarizing, and analyzing financial transactions of a business, providing insight into its financial health and performance.

Correct Entry

An accurate and approved accounting record reflecting a financial event.