On September 30, 20X8, Wilfred Company Sold Inventory to Jackson

question 63

Multiple Choice

On September 30, 20X8, Wilfred Company sold inventory to Jackson Corporation, its Canadian subsidiary. The goods cost Wilfred $30,000 and were sold to Jackson for $40,000, payable in Canadian dollars. The goods are still on hand at the end of the year on December 31. The Canadian dollar (C$) is the functional currency of the Canadian subsidiary. The exchange rates follow: Based on the preceding information, at what amount is the inventory shown on the consolidated balance sheet for the year?

• A) $45,000
• B) $30,000
• C) $40,000
• D) $35,000

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Definitions:

Co-variables

Variables that are potentially predictive or descriptive of the outcome under study in research, often analyzed alongside independent variables.

Situational Factors

External factors, such as time and environment, that can influence a person's behavior and decisions in a particular context.

Decision-Making Processes

The cognitive and psychological mechanisms by which individuals or groups select among different options based on values and preferences.

Specific Point

A distinct and precise location or idea.