Exchange Rates Are Required in Journal Entries -

question 32

Multiple Choice

Exchange rates are required in journal entries -

• A) only when payments are made to suppliers or received from customers because money has changed hands
• B) only at the time of a purchase or sale because the expense or income is realized at that time in accrual-based accounting
• C) whenever the exchange rate changes because otherwise they do not affect amounts in journal transactions
• D) for all journal transactions involving foreign currencies

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