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For an American trader, an interbank quotation of $1.4631/£ is in
a direct terms
b non-conventional terms
c European
d indirect terms
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- May I get part C and D Given below are a set of foreign exchange quotes for several currencies against the Australiandollar as of August 5, 2020.Australian Dollar Exchange RatesCurrency Sell/buyUS, dollar 0.7143/0.7143UK, pound 0.5458/0.5459China, yuan Renminbi 4.9872/4.9907Hong Kong, dollar 5.5349/5.5364India, rupee 53.572/53.669Japan, yen 75.70/75.70Malaysia, ringgit 3.0104/3.0139Philippines, peso 34.953/35.135South Africa, rand 12.2272/12. 2340Switzerland, franc 0.6551/0.6551Thailand, baht 22.1892/22.2317(a) A friend of yours is totally confused by these rates. She is planning to visit Thailand next monthand wishes to purchase 10,000,000 Baht. How many Australian dollars does she require,assuming she is able to use the above quotes?(b) What are the direct quotes for the following currencies with respect to the Australian dollar?(i) UK pound(ii) Chinese Renminbi(iii) Indian rupee(iv) Malaysian ringgit(v) South African rand (c) Create a table showing the bid and ask quotes of each of…When translating Acceletron’s fi nancial statements into US dollars, Redline is least likelyto use an exchange rate of USD per SGD:A . 0.671.B . 0.588.C . 0.654.When exchange rates are quoted as the number of U.S. dollars per unit of foreign currency, it is referred to as a . European terms b . American terms c . spot-market terms d . fixed-exchange terms
- On November 30, P Corporation purchased inventory from a Chinese supplier. The Chinese company requires payment to be made in Yuan. What exchange rate should be used to value the account payable on the balance sheet? a_ Weighted average exchange rate for the year. B) Exchange rate at the end of the year C) Exchange rate on the settlement date D) Exchange rate on the date of purchase.Given below are a set of foreign exchange quotes for several currencies against the Australiandollar as of August 5, 2020.Australian Dollar Exchange RatesCurrency Sell/buyUS, dollar 0.7143/0.7143UK, pound 0.5458/0.5459China, yuan Renminbi 4.9872/4.9907Hong Kong, dollar 5.5349/5.5364India, rupee 53.572/53.669Japan, yen 75.70/75.70Malaysia, ringgit 3.0104/3.0139Philippines, peso 34.953/35.135South Africa, rand 12.2272/12. 2340Switzerland, franc 0.6551/0.6551Thailand, baht 22.1892/22.2317(a) A friend of yours is totally confused by these rates. She is planning to visit Thailand next monthand wishes to purchase 10,000,000 Baht. How many Australian dollars does she require,assuming she is able to use the above quotes?(b) What are the direct quotes for the following currencies with respect to the Australian dollar?(i) UK pound(ii) Chinese Renminbi(iii) Indian rupee(iv) Malaysian ringgit(v) South African rand(c) Create a table showing the bid and ask quotes of each of the following currency…4) Brief, Inc., had a receivable from a foreign customer that is payable in the customer’s local currency. On December 31, 2020, Brief correctly included this receivable for 200,000 local currency units (LCU) in its balance sheet at $110,000. When Brief collected the receivable on February 15, 2021, the U.S. dollar equivalent was $120,000. In Brief’s 2021 consolidated income statement, how much should it report as a foreign exchange gain? a) $–0– b)$10,000 c) $15,000 d) $25,000
- Choose the correct. Brief, Inc., had a receivable from a foreign customer that is payable in the customer’s local currency. On December 31, 2017, Brief correctly included this receivable for 200,000 local currency units (LCU) in its balance sheet at $110,000. When Brief collected the receivable on February 15, 2018, the U.S. dollar equivalent was $120,000. In Brief’s 2018 consolidated income statement, how much should it report as a foreign exchange gain?a. $–0–b. $10,000c. $15,000d. $25,000A quotation with the value of a foreign currency in dollars is referred to as a ____ quotation; a quotation with the foreign currency per dollar is referred to as a ____ quotation. A. direct; direct B. indirect; direct C. indirect; indirect D. direct; indirectGiven Ruiz’s belief about the direction of exchange rates, Eurexim’s gross profi t marginwould be highest if it accounts for the Ukraine subsidiary’s inventory using:A . FIFO and the temporal method.B . FIFO and the current rate method.C . weighted-average cost and the temporal method
- American Terms European Terms Bank Quotations Bid Ask Bid Ask British pounds $ 1.9714 $ 1.9719 £ 0.5071 £ 0.5072 Euros $ 1.4740 $ 1.4745 € 0.6782 € 0.6784 Using the table above, what is the ask price of euro in terms of pounds (Ask Cross rate of £/€)?These are currency quotes found on a foreign market: GH 4.30/$, and GH 4.55/$. Which currency is appreciating in value?A U.S. exporter has a Thai baht account receivable resulting from an export sale on June 1 to a customer in Thailand. The exporter signed a forward contract on June 1 to sell Thai baht and designated it as a cash flow hedge of a recognized Thai baht receivable. The spot rate was $0.022 on that date, and the forward rate was $0.021. Which of the following did the U.S. exporter report in net income?a. Discount expenseb. Discount revenuec. Premium expensed. Premium revenue