Exhibit 3-11 Refer to Exhibit 3-11. Fill in blanks (A)and (B)respectively with "Exchange" or "No Exchange" to indicate whether or not exchange would take place at the given prices.
A)Exchange; Exchange
B)Exchange; No Exchange
C)No Exchange; Exchange
D)No Exchange; No Exchange

Question

Exhibit 3-11  Refer to Exhibit 3-11.  Fill in blanks (A)and (B)respectively with "Exchange" or "No Exchange" to indicate whether or not exchange would take place at the given prices.
A)Exchange; Exchange 
B)Exchange; No Exchange 
C)No Exchange; Exchange 
D)No Exchange; No Exchange

Quizplus · Accepted Answer

The bid price for XQ is higher than the ask price for XN, indicating that there is potential for an exchange. Similarly, the bid price for XN is higher than the ask price for XQ, indicating that there is potential for an exchange. Therefore, exchange would take place at these prices.