If Spot NZD/CHF Is Quoted to You as 0

question 556

Multiple Choice

If spot NZD/CHF is quoted to you as 0.7406-09. How many NZD would you receive in exchange for CHF 5,000,000.00 if you dealt on the price?

• A) 3,704,500.00
• B) 6,748,549.06
• C) 3,703,000.00
• D) 6,751,282.74

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Definitions:

Single-Step Form

An income statement format that subtracts total expenses from total revenues to find net income in one step.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, resulting in a net income or loss.

Cash Sales

Transactions in which payment is made in cash at the time of sale, rather than on credit.

MasterCard

A global financial services corporation that processes payments between banks of merchants and the card issuing banks for purchases made with credit and debit cards.