Which of the following institutions simplifies financial settlements between buyers and sellers in different countries?
A) The U.S. State Department
B) The International Monetary Fund
C) The World Bank
D) Commercial banks
E) The Internet
Answer: D
Explanation: D) Banks convert currencies used by buyers into the seller's currency. Money itself need not flow between the banks in each country, unless some is needed to cover a difference between inflows and outflows.
Business
You might also like to view...
An appraiser usually uses which of the following approaches in estimating the value of unimproved property:
A: Cost; B: Income; C: Gross rent multiplier; D: Comparison.
Business
Buyer descriptions are created to describe the type of buyer intended for a product
Indicate whether the statement is true or false
Business