Today,you Can Exchange $1 for £0

question 52

Multiple Choice

Today,you can exchange $1 for £0.6522.Last week,£1 was worth $1.6104.How much profit or loss would you now have if you had converted £100 into dollars last week?

• A)loss of ₤1.57
• B)loss of ₤0.39
• C)loss of ₤0.07
• D)profit of ₤5.03
• E)profit of ₤5.59

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Definitions:

Asset's Market Value

The current price at which an asset can be bought or sold in a marketplace, reflecting the value assigned to it by the market participants.

Cash Received

The amount of money received by a business or individual in a given period.

Historical Cost

The original monetary value of an asset or investment at the time of its purchase or acquisition.

Financial Position

The financial position of a company or individual refers to their economic status and health, determined by assessing assets, liabilities, and equity at a given point in time.