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

question 58

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:

Expressed Openly

The act of sharing thoughts, feelings, or opinions in a straightforward and uninhibited manner.

Functional Conflict

Functional conflict is a healthy, constructive disagreement between two or more individuals or groups that leads to improved decision-making or outcomes.

Culture on Behavior

Culture on Behavior examines how the shared values, norms, and practices within a culture influence the behaviors of its members.

Dysfunctional Conflict

A disagreement or conflict that leads to negative outcomes, hindering organizational performance and goals.