Which of These Is Defined as the Amount of Foreign

question 118

Multiple Choice

Which of these is defined as the amount of foreign currency it takes to buy one unit of domestic currency?

• A) Exchange rate
• B) Spot transaction
• C) Indirect quote
• D) Direct quote

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Definitions:

Majority

More than half of a particular group or amount; often referring to the greater part of a specific population or quantity.

Repudiated

Refers to the rejection or denial of a claim or contract.

Binding

Describes an agreement, contract, or decision that is legally enforceable, requiring parties involved to adhere to the terms set forth.

Competition Act

Legislation aimed at preventing anti-competitive practices in the marketplace, ensuring fair competition, and protecting consumers from unfair business practices.