Using the Table Shown,what Is the Spot Cross-Exchange Rate Between

question 61

Multiple Choice

Using the table shown,what is the spot cross-exchange rate between pounds and euro?

• A)€1.00 = £0.75
• B)£1.33 = €1.00
• C)£1.00 = €0.75
• D)none of the above

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Definitions:

Accounts Credited

Refers to the entries made on the credit side of a ledger, indicating a reduction in assets or an increase in liabilities or equity.

Supplies On Account

The purchase of supplies on credit, where payment is deferred to a later date.

Normal Balance

The side (debit or credit) of an account that is expected to have a higher balance based on the account type.

Service Revenue

Income earned by a company through the provision of services to customers, as opposed to selling goods.