After watching the documentary End of the Road: How Money Became Worthless and reading Chapter 11 in the text, please answer the following quiz questions worth 5 points each:

1) In 1972 the world switched from a gold-backed currency system to a fiat, or floating, currency system. Please define each type of system, tell which system you prefer, and support your answer with details.

2) After viewing the documentary, please share your thoughts upon reading the line in the text that states, "For example, in 2008, exchange rates increased Microsoft's revenues by $1.6 billion."

3) Any multinational company that conducts business transactions denominated in a foreign currency or that has foreign subsidiaries is subject to accounting standards dictating treatment and calculation of foreign currency translation gains and losses. What section of the FASB Accounting Standards Codifications can this information be found? (Please provide a reference in the following format: 740-10-25.)

4) Both the documentary and the text discussed the top 6 currencies in which most of the world's business transactions are settled. Please name those currencies and tell why you think they are the top 6 out of more than 150 currencies around the world. You may do further research using the Internet.

5) End of the Road: How Money Became Worthless initially presents a rather grim outlook on the fate of the U.S. dollar but then says not to worry because the fall of the dollar will ultimately have a positive effect on the world. Do you agree or disagree with this view? Why? If the U.S. dollar eventually does experience hyperinflation, how do you feel this may affect you personally? How will it affect your generation?