What was the euro price of the British pound on December 21, 2010? Why?
What will be an ideal response?
We can find this information two ways. The cross-rate quote from Exhibit 2.6 is €1.1818/£. The exchange rates of euros per dollar and dollars per pound from Exhibit 2.5 are €0.7636/$ and $1.5477/£. We know that there would be a triangular arbitrage possibility if the cross-rate differs from the indirect rate using the dollar as an intermediary. Thus, we find the same value if we calculate
You might also like to view...
Childers Company, which uses a perpetual inventory system, has an established petty cash fund in the amount of $500. The fund was last reimbursed on November 30. At the end of December, the fund contained the following petty cash receipts: December 4Freight charge for merchandise purchased$56.00?December 7Delivery charge for shipping to customer$80.00?December 12Purchase of office supplies$45.00?December 18Donation to charitable organization$64.00?If, in addition to these receipts, the petty cash fund contains $246.00 of cash, the journal entry to reimburse the fund on December 31 will include:
A. A credit to Cash Over and Short of $9.00. B. A debit to Transportation-In of $101. C. A credit to Cash of $254.00. D. A debit to Petty Cash of $101. E. A credit to Office Supplies of $80.
Ted and Alice own their recreational vehicle subject to a security agreement to Third U.S. Bank to secure the repayment of the purchase money loan. Ted and Alice sell their RV to Bob and Carol, who agree to take over the loan payments to the bank. There is no novation with the bank. Under these facts, if Bob and Carol do not make the loan payments, Third U.S. Bank
A. can sue Bob and Carol only. B. can sue Ted and Alice only. C. can sue Bob, Carol, Ted, and Alice. D. cannot sue anyone but can repossess the RV.
The only form of discovery that can be used with people who are not parties to the lawsuit is the __________
Fill in the blanks with correct word
A fiduciary duty, arising out of a relationship of trust and confidence, is one of utmost loyalty and good faith
a. True b. False Indicate whether the statement is true or false