The town of Hyder, Alaska, a U.S. border town, uses the Canadian dollar (CAD) as its preferred currency. However, workers in the U.S. Post Office in Hyder are paid in U.S. dollars (USD). Suppose the exchange rate is initially .77 USD per 1.00 CAD, then currency market fluctuations change the exchange rate to .83 USDs par 1.00 CAD. As a result of this change in exchange rates, the:

a. incomes of the postal workers decrease.
b. purchasing power of the postal workers' incomes decreases.
c. incomes of the postal workers increase.
e. purchasing power of the postal workers' incomes increases.

Eligibility to take the Uniform CPA Exam is determined by individual State Boards of Accountancy. Typically, the application is a bachelor's degree from the American University that includes a minimum number of credits in accounting and business administration, plus 1 year of additional study. This 5-year study requirement is known as the “150 hour rule” and has been adopted by most state boards, although there are still some exceptions (eg, California). This requirement requiring 150 hours of study has been adopted by 45 states.

The Colorado State Board of Accountancy allows Chartered Certified Accountants (ACCA), along with Chartered Accountants from eligible jurisdictions (Australia, South Africa, Canada, Ireland, New Zealand) to automatically qualify for the Uniform CPA Exam as  candidate in Colorado. Since December 9, 2009, ACCA members are not automatically eligible to take the Uniform CPA Exam.

Explanation: