[The Following Information Applies to the Questions Displayed Below

question 68

Multiple Choice

[The following information applies to the questions displayed below.]
In a recent financial journal,the exchange rate between the dollar and the British pound was quoted in two ways:

-The number of pounds equal to $50,000 on this date is:

• A)£31,250.
• B)£80,000.
• C)£32,500.
• D)Depends upon whether the item is a receivable or a payable.