In Addition to Ethical Guidance, the Yellow Book Contains the Following

question 22

Multiple Choice

In addition to ethical guidance, the Yellow Book contains the following standards:

• A) compliance standards.
• B) recovery standards.
• C) reinvestment standards.
• D) retention standards.
• E) field work standards.

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Definitions:

Balance Of Payments

A summary of all the financial transactions that take place between the individuals, firms, and governmental units of one nation and those of all other nations during a year.

Floating Exchange Rates

Currency values that fluctuate in response to the foreign exchange market without intervention by government or central banks.

Central Banks

The principal monetary authority responsible for overseeing the monetary system, issuing currency, and implementing economic policies of a country or monetary union.

IMF

International Monetary Fund, an international organization aiming to foster global monetary cooperation, secure financial stability, and facilitate international trade.