On November 1, 2017, Cone Company Sold Inventory to a Foreign

question 16

Multiple Choice

On November 1, 2017, Cone Company sold inventory to a foreign customer. The account will be settled on March 1 with the receipt of 250,000 foreign currency units (FCU) . On November 1, Cone also entered into a forward contract to hedge the exposed asset. The forward rate is $0.90 per unit of foreign currency. Cone has a December 31 fiscal year-end. Spot rates on relevant dates were: The entry to record the forward contract is

• A) FCU Receivable, 225,000; Premium on Forward Contract, 7,500; Dollars Payable, 232,500
• B) Dollars Receivable, 232,500; Discount on Forward Contract, 7,500; FCU Payable, 225,000
• C) FCU Receivable, 232,500; Discount on Forward Contract, 7,500; Dollars Payable, 225,000
• D) Dollars Receivable, 225,000; Discount on Forward Contract, 7,500; FCU Payable, 232,500

---

Definitions:

Relationship Goals

Objectives or desired outcomes that individuals aim to achieve within their interpersonal relationships.

Interaction

The reciprocal action or influence between two or more entities, typically resulting in a change or response.

Conflict Interaction

Describes the process by which disputes and disagreements between parties are communicated and managed.

Topic

Refers to the subject or matter being discussed or considered in a conversation, debate, or discourse.