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saul85 [17]
3 years ago
8

Under the gold standard of currency exchange that existed from 1879 to 1914, an ounce of gold cost $20.67 in U.S. dollars and £4

.2474 in British pounds. Therefore, the exchange rate of pounds per dollar under this fixed exchange regime was:________.A) £4.8665/$.B) £0.2055/$.C) always changing because the price of gold was always changing.D) unknown because there is not enough information to answer this question.
Business
1 answer:
Bogdan [553]3 years ago
6 0

Answer:

B. £0.2055/$

Explanation:

Given that

An Ounce of gold cost = $20.67 in US dollars

An ounce of gold cost = £4.2474 in British pounds.

Therefore,

Exchange rate per 1 dollar

= 4.2474 ÷ 20.67

= 0.20548

= 0.2055.

This means that 1 dollar is equivalent to 0.2055 British dollars at that time using that exchange rate.

£0.2055/$

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If the performance evaluations that salespeople receive are based solely on sales revenue to the exclusion of other important fa
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c. criterion deficiency

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Answer:

See the journal entry below

Explanation:

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NB.

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Given that;

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Accounts Receivable from sales to customers amounted to $80,000 and $70,000 at the beginning and end the year, respectively. Inc
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Answer:

$332,000

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<u>Cash flow from operating activities</u>

Net Income                                                                                  $252,000

Adjust for changes in working capital items :

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