The Cost of One Pound of Red Grapes in Philippines

question 52

Multiple Choice

The cost of one pound of red grapes in Philippines is Peso 85.35 and $1.99 in Canada. Suppose that purchasing powers are equal across countries, what is the spot exchange rate?

• A) 0.01797 dollar per peso
• B) 0.02332 peso per dollar
• C) 42.8894 peso per dollar
• D) 0.06029 dollar per peso
• E) Insufficient information

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Definitions:

Payroll Register

A payroll register is a record that details the wages, deductions, and net pay of all employees for each pay period.

CPP Payable

Refers to the amount owed by companies or individuals for contributions to the Canada Pension Plan, a key component of Canada's public retirement system.

CPP Expense

Costs associated with the Canada Pension Plan contributions by an employer, representing a payroll expense.

Non-current Note

a long-term financial obligation or loan that is not due for repayment within the next year or operating cycle of the business.