You Are an Administrative Assistant for the Vice President of an International

question 19

Short Answer

You are an administrative assistant for the vice president of an international bank. The vice president has asked you to prepare a budget for a corporate meeting using an Excel program bundled in the newly acquired Office 2007 suite. Interested in learning about the functionality of Excel, the vice president asks you some questions about your work on the budget. The Excel spreadsheet in progress appears below. What type of document does the Excel program represent?

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Definitions:

Sell

The act of transferring ownership of a product or service from one party to another in exchange for money or other compensation.

Option Contract

A contract which gives the buyer the right, but not the obligation, to buy or sell an underlying asset at a set price on or before a particular date.

Option Premium

The price paid for the right to buy or sell an underlying financial instrument at a specified strike price until the option expires.

Underlying Asset

An asset that determines the value of a financial derivative, such as options or futures.