Exchange Rate Quote Convert the Following Direct Quote to a Dollar

question 74

Multiple Choice

Exchange Rate Quote Convert the following direct quote to a dollar indirect quote:
1 Indian rupee = $0.02250

• A)0.02250 rupee
• B)0.9775 rupee
• C)1.0225 rupee
• D)44.44 rupee

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Definitions:

Authorized

Authorized means having the official permission or approval to do something, especially in a legal or business context.

Liable

Legally responsible or obligated to make restitution or compensation for harm or breach.

Chief Financial Officer

A senior executive responsible for managing the financial actions of a company, including financial planning and record-keeping, as well as financial reporting to higher management.

Accommodation Party

A person who signs a negotiable instrument for the purpose of adding his name and liability to another party to the instrument.