A general budget is a term often used to describe a budget for all of the following except

Which of the following best describes an express warranty?

A) Any promise, oral or written, obligating the seller to repair or replace goods for a specified period of time B) Any statement or other representation made with respect to goods C) A written provision obligating the seller to repair or replace goods for a specified period of time D) Any guarantee that the goods will pass without objection in the trade

Suppose the 360-day forward exchange rate is 1.657 dollars per British pound, and the current spot

rate is 1.625 dollars per British pound. If the 360-day interest rate in the United States is 5% and the 360-day interest rate in Great Britain is 3%, is the market in equilibrium according to the interest rate parity theory? A) No, because the forward premium on the pound is 2% while the interest rate in the United States is 67% higher than the interest rate in Great Britain. B) No, because the higher interest rate in the United States (2%) implies that the forward exchange rate should be 2% lower than the current spot rate. C) Yes, because the forward premium on the pound (2%) is exactly offset by the lower interest rate in Great Britain. D) Cannot be determined without knowing the amount of money being exchanged.