Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 20, 2021

Kevin sees that gold is selling for $1,675 an ounce in London and $1,705 an ounce in New York. Kevin quickly buys gold in London

Kevin sees that gold is selling for $1,675 an ounce in London and $1,705 an ounce in New York. Kevin quickly buys gold in London and sells it immediately in New York. What is Kevin practicing?

Step by Step Solution

★★★★★

3.44 Rating (147 Votes )

There are 3 Steps involved in it

Step: 1

It is known as a rbitrage This comes in w... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting

Authors: Donald E. Kieso, Jerry J. Weygandt, And Terry D. Warfield

13th Edition

9780470374948, 470423684, 470374942, 978-0470423684

More Books

Students also viewed these Accounting questions

Question

★★★★★

An investor notices that an ounce of gold is priced at $ 1,318 in London and $ 1,325 in New York. What action could the investor take to try to profit from the price discrepancy? Which of the six...

Answered: 1 week ago

Question

★★★★★

An investor notices that an ounce of gold is priced at $1,518 in London and $1,525 in New York. a. What action could the investor take to try to profit from the price discrepancy? b. Under which of...

Answered: 1 week ago

Question

★★★★★

Kevin Limited owns a retail store that sells new and used sporting equipment. Recently the managing director Kevin is concerned about the cash flow situation of the company. He has asked his...

Answered: 1 week ago

Question

★★★★★

The Apache NetBeans IDE is mainly composed of NetBeans Open-Source IDE and NetBeans Platform. (True/False)

Answered: 1 week ago

Question

★★★★★

The joint pdf of X and Y is Find the pdf of XY. f(x, y)-Be-(1+9) , x+By) >0,x>0.

Answered: 1 week ago

Question

★★★★★

Consider the data for a simple project at Carlos Lopezs real estate development company, as given in the following table. a) Note that this project has only one path. What is the expected completion...

Answered: 1 week ago

Question

★★★★★

Briefly explain at least five different ways of assessing truth.

Answered: 1 week ago

Question

★★★★★

Amanda and Paul are equal owners in Talon, Inc., an S corporation, and each has an adjusted basis in the stock of $80,000. In the current year, Talon has a loss of $200,000, and its Schedule K-1s...

Answered: 1 week ago

Question

★★★★★

Assume credit term of 2/10, net 30. On June 1, the first day that Gem was open for business, Gem Merchandise Co. ships $1,000 of goods. Gem's cost of goods is 80% of their original selling prices...

Answered: 1 week ago

Question

★★★★★

Fullerton Waste Management purchased land and a warehouse for $600,000. In addition to the purchase price, Fullerton made the following expenditures related to the acquisition: broker's commission,...

Answered: 1 week ago

Question

★★★★★

Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,500 pounds of oysters in August. The company's flexible budget for August appears below. Quilcene...

Answered: 1 week ago

Question

★★★★★

Simulate a Merge Conflict E. Introduce a merge conflict with the "Test" branch by doing the following: add the git version number to the README.md file on the Working branch merge the "Test" branch...

Answered: 1 week ago

Question

★★★★★

1. [4 Points] Use the Basic Differentiation Rules/Formulas to find the Derivative. Simplify your final answer algebraically and express it in radical notation. f(x) = [xx + 1 131] [x - 1/1/1]

Answered: 1 week ago

Question

★★★★★

You finally saw the couch you need: the colour is perfect (royal blue), the length is just right (it could seat you, your husband, and the kids), and the style is ideal for your furnishings (modern...

Answered: 1 week ago

Question

★★★★★

As a supervisor , write the solution for the employee scenario below Withdrawing from Work: "Chloe is an excellent worker. When she is on, she's on. But when she's not, she can be irritable, erratic,...

Answered: 1 week ago

Question

★★★★★

Downtown Kingston Transport Centre/ Project management Instructions: Read the case study below, access the links provided and answer all questions. The downtown Kingston and Saint Andrew Centre were...

Answered: 1 week ago

Question

★★★★★

Kaler Company has sales of $1,390,000, cost of goods sold of $780,000, other operating expenses of $193,000, average invested assets of $4,300,000, and a hurdle rate of 12 percent. Required: 1....

Answered: 1 week ago

Question

★★★★★

Catherine (aged 42) and Johnson (aged 45) have been married for 12 years. Johnson is a project manager of an event company at a monthly salary of $55,000 with an additional one-month salary of...

Answered: 1 week ago

Question

★★★★★

Capitalization of Interest on July 31, 2010, Bismarck Company engaged Duval Tooling Company to construct a special-purpose piece of factory machinery. Construction was begun immediately and was...

Answered: 1 week ago

Question

★★★★★

Inventoriable CostsError Adjustments Werth Company asks you to review its December 31, 2010, inventory values and prepare the necessary adjustments to the books. The following information is given to...

Answered: 1 week ago

Question

★★★★★

What are compensated absences?

Answered: 1 week ago

Question

★★★★★

The Cowichan Regional District borrowed $500,000 through the Provincial Finance Authority to purchase fire-fighting equipment. At the end of every six months, the regional district must make a...

Answered: 1 week ago

Question

★★★★★

A $1000, 9.5% coupon Government of Canada bond has 10 years remaining until its maturity. It is currently priced at 108.25 (percent of face value). a. What is the bonds yield to maturity? b. If the...

Answered: 1 week ago

Question

★★★★★

Rocky Mountain Bus Tours needs an additional bus for three years. It can lease a bus for $2100 payable at the beginning of each month, or it can buy a similar bus for $120,000, using financing at the...

Answered: 1 week ago

Previous Question Next Question