When Do Bank Participants Have a Duty to Make Absolutely

question 209

Multiple Choice

When do bank participants have a duty to make absolutely clear whether the prices they are quoting are firm or merely indicative?

• A) only if they are dealing with brokers
• B) only if dealing on an e-trading platform
• C) only if they are dealing in non-marketable amounts
• D) always

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Definitions:

Weighted-Average

A calculation method that multiplies each component by a weight reflecting its importance and sums these products to get an average.

Equivalent Units

A concept used in cost accounting to express the amount of work done on partially finished goods in terms of fully finished goods.

Production Process

The sequence of operations or steps taken to convert raw materials into finished goods.

Weighted-Average Method

An inventory costing method that assigns a weighted average cost to items, blending the costs of similar items.