Explain the process of creating a synthetic Forward Rate Agreement
What will be an ideal response?
This is accomplished by trading a series of zero coupon bonds so as to simulate FRA cash flows at time 0, time t, and time t + s. Short at time 0 the present value of a zero coupon bond, maturing at time t. At time 0 buy the exact same dollar value of zeros, which mature at time t + s.
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_____ extends and customizes Excel, allowing you to do things that Excel itself is not able to do, such as calculating values in cells based on user input values.
Fill in the blank(s) with the appropriate word(s).
When using confirmations with outside parties, the auditor must assure which of the following about the outside party?
a. The outside party exists. b. The outside party is able to respond objectively and independently. c. The outside party is unbiased in responding. d. All the above.
Which of the following is true of a subsidiary?
A. A subsidiary is used to operate a parent company's holding company. B. A subsidiary does not actually conduct business; rather, it functions as a foreign contact point. C. A subsidiary insulates the parent company from unlimited liability. D. A subsidiary is a part of the parent company and is not separately incorporated.
A+ Modeling Agency signs a contract with Sandi to do a photo shoot for the local used car dealer's advertising. The contract was most likely written by
a. the owner of A+ Modeling Agency. b. Sandi. c. A+ Modeling Agency's lawyer. d. Sandi's lawyer.