A cash equivalent is a highly liquid investment that can be converted into cash in three years or less

Accountants assume that the dollar's purchasing power is stable

Indicate whether the statement is true or false

The broker at Deutsche Bank quotes bid-ask rates of ¥104.15-30/$. What would be its direct asking price for yen if the bank's €/$ ask rate is .6550?

A) €.0061/¥ B) €.00628/¥ C) €159.24/¥ D) €164.25/¥