[The following information applies to the questions displayed below.]

In a recent financial journal, the exchange rate between the dollar and the British pound was quoted in two ways:

Exchange rate (in dollars) $ 1.60 Exchange rate (in pounds) 0.625 The number of pounds equal to $48,000 on this date is

Multiple Choice a. 30,000. b.76,800. c.31,200. d. Depends upon whether the item is a receivable or a payable.

[The following information applies to the questions displayed below.]

In a recent financial journal, the exchange rate between the dollar and the British pound was quoted in two ways:

Exchange rate (in dollars) $ 1.60 Exchange rate (in pounds) 0.625 The number of dollars equivalent to 48,000 on this date is: Multiple Choice a.$30,000. b.Depends upon whether the item is a receivable or a payable. c.$31,200.

d.$76,800