Suppose the Exchange Value of the British Pound Is $2

question 107

Multiple Choice

Suppose the exchange value of the British pound is $2 per pound while the exchange value of the Swiss franc is 50 cents per pound.The cross-exchange rate between the pound and the franc is

• A) 1 franc per pound.
• B) 2 francs per pound.
• C) 3 francs per pound.
• D) 4 francs per pound.

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Definitions:

Fraudulent Misrepresentation

An intentional false statement of a material fact made by one party to induce another party to enter into a contract, resulting in harm or loss.

Defalcation

The misappropriation of funds or property by a person trusted with its charge; often related to embezzlement.

Consciously False

Refers to a statement or claim made with the knowledge that it is not true.

Legitimate Lawsuit

A legal action based on valid claims and supported by evidence, which is brought forth in good faith.