Which of the Following Is the Correct Way to Show

question 55

Multiple Choice

Which of the following is the correct way to show the effects of a newly imposed import quota?

• A)shift the demand for loanable funds left,the supply of dollars in the market for foreign- currency exchange left,and the demand for dollars in the market for foreign-currency exchange right
• B)shift the demand for loanable funds left,the supply of dollars in the market for foreign- currency exchange right,and the demand for dollars in the market for foreign-currency exchange left
• C)shift the demand for dollars in the market for foreign-currency exchange to the right
• D)shift the supply of dollars in the market for foreign-currency exchange to the left

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Definitions:

Periodic System

An inventory system where inventory records are updated at specific intervals, as opposed to continuously.

Cost of Goods Sold

Cost of Goods Sold (COGS) refers to the direct costs attributable to the production of the goods sold by a company.

IFRS

International Financial Reporting Standards, which are a set of accounting standards developed by the International Accounting Standards Board (IASB) that guide the preparation of financial statements globally.

Inventories

Items held for sale in the ordinary course of business, as well as materials and components intended for use in the production process.