Flashcard Terms (F's)

1
Q

Financial Accounting Standing Board

A

An independent group that oversees the development and revision of the GAAP

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2
Q

Financial Instrument

A

A monetary contract between parties

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3
Q

Fixed costs

A

The necessary expenses of the manufacturing process other than the cost of materials or labor used in production

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4
Q

Fixed Exchange Rate System

A

A system where a currency’s value is tied to the value of another single currency, to a basket of other currencies, or to another measure of value, such as gold

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5
Q

Fixed-Rate Currency Exchange System

A

When a country’s currency value is fixed or pegged by a monetary authority against the value of another currency, a basket of currencies, or another measure of value

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6
Q

Flat Stuctures

A

Organizational structures with few layers

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7
Q

Floating Exchange Rate

A

A system where the value of currency in relation to others is allowed to freely fluctuate subject to market forces

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8
Q

Foreign Currency

A

Any form of money in circulation in a different country

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9
Q

Foreign Exchange Market

A

The market in which people use one currency to buy another currency

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10
Q

Forward Currency

A

A contract in which the firm agrees to pay a set rate at the beginning of a contract.

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11
Q

Free Trade

A

International trade left to its natural course without tariffs, quotas, or other restrictions

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12
Q

Free Trade Agreements

A

Economic agreement between countries to allow free trade between members

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13
Q

Free Trade Zone

A

An area where the nations allow free, or almost free, trade among each other while imposing tariffs on goods of nations outside the zone

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14
Q

Fronting Loan

A

A loan made between a parent company and its subsidiary through a financial intermediary such as a bank

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15
Q

Functional Departmentalization

A

Organizing a company’s people, tasks, and resources based on business functions such as marketing, production, and sales

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16
Q

Functional/Departmental Structure

A

An organizational structure dividing employees into departments based on business functions