Archie's Had Sales of $6,758

question 44

Multiple Choice

Archie's had sales of $6,758.The state sales tax rate is 7%.All sales are cash.What amount will be debited to Cash?

• A) $6,758.00
• B) $7,231.06
• C) $473.06
• D) $866.06

---

Definitions:

Remeasured Value

The adjusted value of an asset or liability based on changes in market conditions or currency exchange rates.

Functional Currency

The currency of the primary economic environment in which an entity operates, typically used in preparing financial statements.

Currency Exchange Rates

The value of one currency for the purpose of conversion to another, dictating how much one currency is worth in terms of another.

Operating Expense

Expenses incurred through normal business operations, such as rent, utilities, and payroll.