If the Japanese Yen Trades at $1 = 98 Yen,a

question 37

Multiple Choice

If the Japanese yen trades at $1 = 98 yen,a Honda that sells for $29,000 in the U.S.be worth approximately how many yen?

• A) 296 yen
• B) 28,000 yen
• C) 371,000 yen
• D) 2,842,000 yen

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Definitions:

Holder in Due Course

A party that has acquired a negotiable instrument in good faith, for value, and without notice of any defect, and thus is protected from certain defenses and claims.

Value for the Check

The amount of money represented by a check; the monetary worth or consideration for which a check is issued.

Holder

An individual or entity that possesses or owns something, such as a holder of a financial instrument or legal title.

Liable on Instrument

The responsibility to pay or perform as specified in a negotiable instrument, such as a check or promissory note, upon its maturity.