Based on the Information Below,what Is the Cross-Rate for Australian

question 84

Multiple Choice

Based on the information below,what is the cross-rate for Australian dollars in terms of Swiss francs? $$\begin{array} { l c } \text { Currency } & \text { U.S. \$Equivalent } \\\hline \text { Australia dollar } & 0.7125 \\\text { Switzerland franc } & 0.8008\end{array}$$

• A)0.5607
• B)0.7219
• C)0.8897
• D)1.1437
• E)1.2834

Understand the concept and benefits of electronic funds transfer (EFT) in financial transactions.

Explain the significance of debit and credit memos on bank statements and their impact on company bank account balances.

Evaluate internal control procedures over cash and identify strengths and weaknesses.

Calculate the beginning balance of a cash account given cash payments and collections data.

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Definitions:

Creditors

Creditors are individuals or entities that are owed money by another entity or individual, known as a debtor.

Debtor

A person, company, or country that owes money.

Surety

A surety involves a third party agreeing to take on the obligation of paying back a debt or performing a duty if the primary obligor fails to do so.

Creditor

A person or entity to whom money is owed by another entity, known as the debtor, for goods, services, or loans provided.