Question

Under the 'Gold Standard' Financial System from 1873-1914, which of the below were used as Reserve Assets?

Gold and Silver

Gold and Pound

Gold and Dollar

Dollar, Mark and Pound

Posted under IC 89 Management Accounting

Answer: (c).Gold and Dollar Explanation:During the 'Gold Standard' Financial System from 1873-1914, gold and certain major currencies, particularly the British Pound and later the U.S. Dollar, were used as reserve assets. Countries adhering to the gold standard agreed to fix the value of their currencies in terms of a specific quantity of gold. The central banks held gold reserves and sometimes other major currencies to support their monetary systems. The U.S. Dollar, backed by gold, gained prominence as a key reserve currency during this period. The gold standard aimed to provide stability to international trade and financial transactions by linking currency values to a fixed quantity of gold.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. Under the 'Gold Standard' Financial System from 1873-1914, which of the below were used as Reserve Assets?

Add Comment

Recommended Subjects

Are you eager to expand your knowledge beyond IC 89 Management Accounting? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!

Cognitive Radio

Step into the dynamic world of Cognitive Radio, where wireless communication meets...

IC85 Reinsurance Management

Gear up for success in the Insurance Institute of India (III) examination with IC85...

IC22 Life Insurance Underwriting

Prepare for success in the Insurance Institute of India (III) examination with IC22...

Food Engineering

Explore the fascinating world of Food Engineering with our specialized category....

Instrumentation Transducers

Master the art of instrumentation and transducers with our specialized category....

Avionics Engineering

Soar into the world of aviation technology with our Avionics Engineering category....

UIDAI Aadhaar Supervisor Certification

Prepare for the UIDAI Aadhaar Supervisor Certification with our specialized category....

Molecular Biology

Dive into the intricate world of molecular biology with our specialized category....

Marketing and Marketing Management

Uncover the strategies and tactics of marketing with our Marketing and Marketing...