Question: Is the following statement True, False or Ambiguous? Provide a short (one or two sentence) justification for each of your answers!! The power of binomial

Is the following statement True, False or Ambiguous? Provide a short (one or two sentence) justification for each of your answers!!

The power of binomial option pricing method is in its flexibility. Binomial option pricing method can account for path-dependent payoffs.

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