1. A exchange rate is the quoted price for a unit of foreign currency to be delivered within a very short period of time. a. fowardb. spot2. The Government does not set a exchange rate, which means that supply and demand in the market determine the currency's value. a. peggedb. floating3. When American customers import more from Europe than they export to Europe, the euro relative to the dollar. a. apprecaitesb. depreciates4. The of a currency refers to an increase or decrease of the stated par value of a currency whose value is fixed. a. depreciation or appreciationb. devaulation or revaluation5. Under a floating regime, the government plays a significant role in managing the exchange rate by manipulating the currency's supply and demand. a. freelyb. managed6. Currencies under such a regime are currencies. a. convertibleb. non convertible

Security a has a higher standard deviation of returns than security b. we would expect that: (i) security a would have a risk premium equal to security b. (ii) the likely range of returns for security a in any given year would be higher than the likely range of returns for security b. (iii) the sharpe ratio of a will be higher than the sharpe ratio of b. (a) i only (b) i and ii only (c) ii and iii only (d) i, ii and iii

Martinez company has the following two temporary differences between its income tax expense and income taxes payable. 2017 2018 2019 pretax financial income $873,000 $866,000 $947,000 (2017' 2018, 2019) excess depreciation expense on tax return (29,400 ) (39,000 ) (9,600 ) (2017' 2018, 2019) excess warranty expense in financial income 20,000 9,900 8,300 (2017' 2018, 2019) taxable income $863,600 $836,900 $945,700(2017' 2018, 2019) the income tax rate for all years is 40%. instructions: a. prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2017, 2018, and 2019. b. assuming there were no temporary differences prior to 2016, indicate how deferred taxes will be reported on the 2016 balance sheet. button's warranty is for 12 months. c. prepare the income tax expense section of the income statement for 2017, beginning with the line, "pretax financial income."

Both a demand curve and a demand schedule show how a. prices affect consumer demand. b. consumer demand affects income. c. prices affect complementary goods. d. consumer demand affects substitute goods.