QUESTION 12

1. Nowadays, a 2.4kg (5.29 lbs) chicken costs 14,600,000 bolivars in Venezuela. This is the equivalent of $2.22 USD. This example from class discussion illustrates which concept?

   	a.	Stability
   	b.	Bull market
   	c.	Inflation
   	d.	Deflation
   	e.	Financial security

1 points

QUESTION 13

1. Most businesses prefer to meet long-term financial needs by SELECT FROM LISTusing the company credit cardborrowing from a lending institutionusing retained earningsresorting to trade creditselling accounts receivable for cash or by SELECT FROM LISTusing the company credit cardborrowing from a lending institutionusing retained earningsresorting to trade creditselling accounts receivable for cash.

1 points

QUESTION 14

1. A basic difference between managerial accounting and financial accounting is that managerial accounting

   		involves the preparation of the balance sheet and income statement while financial accounting involves the preparation of the statement of cash flows.
   		provides information primarily intended for managers and others inside the company, while financial accounting provides information primarily intended for people outside the organization.
   		adheres to rules set by the GASB, while financial accounting uses a different group of rules set by the FASB.
   		handles recording and classifying information about transactions that have no direct financial impact on the firm, while financial accounting handles the recording and classifying of information about transactions that do have a financial impact.

1 points

QUESTION 15

1. Which of the following statements about the International Monetary Fund (IMF) is FALSE?

   	a.	It has been criticized by human rights activists for supporting countries that restrict religious freedoms and tolerate sweatshops
   	b.	It has offices and representatives in 159 countries around the world
   	c.	Encourages loans to those with little to no income
   	d.	The IMF was designed to oversee member countries' monetary and exchange rate policies
   	e.	Primarily responsible for financing economic development

1 points

QUESTION 16

1. How did banks contribute to the recent financial crisis?

   	a.	They denied loans to those in need.
   	b.	They refused to sell anything other than fixed-rate mortgages.
   	c.	They provided loans higher than the discount rate.
   	d.	They began to offer investment products other than demand and time deposits.
   	e.	They made risky loans and then created mortgage-backed securities from the assets they held.