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alina1380 [7]
1 year ago
7

An agreement to exchange dollar bank deposits for euro bank deposits in one month is a:_________

Business
1 answer:
koban [17]1 year ago
8 0

An agreement to exchange dollar bank deposits for euro bank deposits in one month is a <u>forward transaction.</u>

<h3>What is a forward contract?</h3>

A tailored agreement between two parties to purchase or sell an item at a predetermined price at a later date is known as a forward contract. Although its non-standardized nature makes it particularly suitable for hedging, a forward contract can be utilized for speculating or hedging.

A forward contract can be tailored to a commodity, amount, and delivery date, unlike typical futures contracts. Grain, precious metals, natural gas, oil, and even chicken are examples of traded commodities. Settlement of a forward contract may take place in cash or by delivery.

Forward contracts are categorized as over-the-counter (OTC) instruments because they are not traded on a centralized exchange. While the OTC nature of these products makes it simpler to adjust terms, the absence of a centralized clearinghouse also increases the chance of default.

Thus, it is a forward transaction that is used to exchange dollar bank deposits for euro bank deposits in one month.

For more information on <u>Forward Transaction</u>, refer to the given link:

brainly.com/question/28238316

#SPJ4

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Answer:

Retained earnings-Closing = $19,900

Explanation:

Given that,

Revenues = $22,400

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Dividends = $4,500

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Net Income = Revenues - Operating expenses

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