Depreciation is the diminution in value of an asset over a period of time due to obsolescence, wear and tear due to usage, passage of time etc. The determination of the amount an asset has depreciated (over a given period of time) is often through assessing its useful life and dividing its purchase value by …
MCQ 1 Which of the following statements best describes the main purpose of accounting in a firm ?
GDP is often used as a metric for international comparisons as well as a broad measure of economic progress. It is often considered to be the world’s most powerful statistical indicator of national development and progress. However, critics of the growth imperative often argue that GDP measures were never intended to measure progress, and leave out key other externalities, such as resource …
You convert one currency to another using the exchange rate between those two currencies. For example, an exchange rate of 1 US dollar to 2 euros means you convert 1 USD to 2 EUR and 2 EUR to 1 USD.
The exchange rate between two currencies is commonly determined by the economic activity of the respective countries, market interest rates, gross domestic product, and unemployment rate in each of the countries. Commonly called market exchange rates, they are set in the global financial marketplace, where banks and other financial institutions trade currencies around the clock …
