If 1 Canadian dollar can be exchanged for 90 cents of U.S. currency, what fraction should be
Question:
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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Related Book For 
Advanced Financial Accounting
ISBN: 9781260165111
12th Edition
Authors: Theodore Christensen, David Cottrell, Cassy Budd
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