If 1 Canadian dollar can be exchanged for 90 cents of U.S. currency, what fraction should be

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If 1 Canadian dollar can be exchanged for 90 cents of U.S. currency, what fraction should be used to compute the indirect quotation of the exchange rate expressed in Canadian dollars?

a. 1.10/1

b. 1/1.10

c. 1/.90

d. 0.90/1

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Advanced Financial Accounting

ISBN: 9781260165111

12th Edition

Authors: Theodore Christensen, David Cottrell, Cassy Budd

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