1. Due to _______, market forces should realign the cross exchange rate between two foreign currencies based on the spot exchange rates of the two currencies against the U.S. dollar.
forward realignment arbitrage
triangular arbitrage
covered interest arbitrage
locational arbitrage
2. The entry to record the billing of customers for services performed includes a
a. Credit to Accounts Payable.
b. Debit to Sales Revenue.
c. Debit to Cash.
d. Debit to Accounts Receivable.