If the Canadian Dollar Were Replaced with a "New Dollar

question 100

Multiple Choice

If the Canadian dollar were replaced with a "new dollar" at an exchange rate of one new dollar for four old dollars,then an hourly wage of $10 would become an hourly wage of _____ new dollars.

• A) 2.50
• B) 6
• C) 10
• D) 60

---

Definitions:

Proportionate Book Value

The valuation of an entity's share in an investment, calculated based on the proportionate share of the invested entity’s book value.

Deferred Income Tax Asset

A balance sheet item that represents the difference between taxes already paid or accrued and the expected future tax payment, indicative of taxes that will be recovered in future periods.

Separate Income Tax Returns

Tax documents filed individually by entities or persons instead of jointly or as part of a consolidated group.

Tax Rate

The proportion of income that the government takes as tax from an individual or a company.