Which of the following examples does not involve different numeraire?

Question

Quizplus · Accepted Answer

Choices A, B, and D all involve different numeraire. Currency translation involves converting the value of assets or liabilities denominated in one currency into the value of another currency. Quantity uncertain refers to situations where the quantity of a given asset is uncertain, leading to different prices being quoted depending on the unit of measurement. All-or-nothing options involve binary outcomes where an investor either receives a fixed payoff or loses the entire premium paid for the option. Backward equation, however, does not involve different numeraire. It is a mathematical approach used to price options and other derivatives by working backwards from the final payoff to the current time.

Which of the Following Examples Does Not Involve Different Numeraire