Northland Corporation Recorded £1,000,000 in Accounts Receivable for Sales to Customers

question 29

Multiple Choice

Northland Corporation recorded £1,000,000 in Accounts Receivable for sales to customers in the United Kingdom and recorded Accounts Payable of 2,000,000 yuan for product purchased from China. If Northland recorded a foreign currency exchange loss on its receivables and a foreign currency gain on its payables,what must have happened to each currency?

• A)Yuan appreciated,Pound depreciated
• B)Yuan depreciated,Pound appreciated
• C)Yuan appreciated,Pound appreciated
• D)Yuan depreciated,Pound depreciated

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Definitions:

Employment Rate

The percentage of the labor force that is employed, often used as a measure of economic health and labor market strength.

Government Officials

Individuals who hold positions of authority in governmental organizations and are responsible for making and implementing policy decisions.

Labor Force

The total number of people, including both the employed and unemployed, who are actively engaged in or seeking work within an economy.

Unemployment Rate

The fraction of the labor force currently without employment but searching for jobs.