Which statement regarding gift giving in the United States is incorrect?
a. Business gifts to an office are intended for the manager to be taken home to share with his or her family.
b. The best rule to follow when giving a business gift in the United States is to limit the price to $25 or less.
c. In the United States gifts are opened in front of the giver.
d. Exchanging gifts among colleagues is becoming less common.
A
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Elimination procedures for intercompany bonds purchased from outside parties by another member of the consolidated group are: a. not needed except in the period of acquisition if purchased at par
b. not needed except in the period of acquisition if purchased at a premium or discount. c. not needed except in the period of acquisition if only a portion of the outstanding bonds are purchased. d. needed each period as long as the intercompany investment in bonds exists.
If one-year U.S. nominal interest rates are 4%, one year Canadian nominal interest rates are 7.5%, and the current spot exchange rate, S0, is $0.587, then what will the expected spot rate be in one year?
A) $0.568 B) $0.607 C) $0.564 D) $0.573