Assume £1 (Pounds Sterling)gold Coin in the United Kingdom Contains

question 48

Multiple Choice

Assume £1 (pounds sterling) gold coin in the United Kingdom contains 113.0016 grains of pure gold,while the $1 gold coin in the US contains 23.22 grains.If the cost of shipping £1 from London to New York was 3 cents,the gold export point of the UK pound is _____,and the gold import point is ________.

• A)$113.16; $113.22
• B)$4.90; $4.84
• C)$19.16; $19.22
• D)cannot be determined from information given

---

Definitions:

Financing Obsolescence

refers to the financial challenge of assets losing value over time due to technological advancements or changes in market demand.

Credit Period

The duration of time that a buyer is allowed to pay for a credit purchase.

Credit Sales

Sales of goods or services that are paid for later, rather than at the time of purchase, building a receivable account on the seller's balance sheet.

Receivables

Amounts due from customers to a company for goods delivered or services rendered, awaiting payment.