On 10 June 20X0, Jackson Ltd an Australian Company, Purchased

question 23

Multiple Choice

On 10 June 20X0, Jackson Ltd an Australian company, purchased inventory for £100 000 from Pollock Ltd, a Welsh company. Under the contract of sale, property passes when the inventory was delivered to OzWale Air Cargo Ltd, this occurred on 20 June 20X0. The inventory was delivered to Jackson Ltd on 25 June 20X0. Jackson Ltd’s reporting period ends on 30 June and its functional currency is A$. Jackson paid the UK£ amount on 15 July 20X0. Some foreign exchange rates were:
$\begin{array} { l l l } \text { 10 June 20X0 } & \mathrm { UK } £ 1.00 = & \mathrm { A } \$ 2.45 \\\text { 20 June 20X0 } & \mathrm { UK } £ 1.00 = & \mathrm { A } \$ 2.60 \\\text { 25 June 20X0 } & \mathrm { UK } £ 1.00 = & \mathrm { A } \$ 2.65 \\\text { 30 June 20X0 } & \mathrm { UK } £ 1.00 & = \mathrm { A } \$ 2.55 \\\text { 15 July 20X0 } & \mathrm { UK } £ 1.00 & = \mathrm { A } \$ 2.35\end{array}$
-What FC exchange difference amounts will be included in Jackson's profit or loss statement if property passed on delivery in Australia?
$\quad$$\quad$$\quad$ 20X0 $\quad$$\quad$$\quad$ 20X1
$\quad$$\quad$$\quad$ $ $\quad$$\quad$$\quad$$\quad$$\quad$ $

• A)10,000 revenue \(\quad\)20,000 revenue
• B)10,000 expense \(\quad\)30,000 revenue
• C)15,000 revenue \(\quad\)25,000 revenue
• D)15,000 revenue \(\quad\)25,000 expense

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Definitions:

STI

Sexually Transmitted Infections, diseases passed from one person to another through sexual contact.

Sexually Exploited/Abused

involves taking advantage of someone in a sexual manner without consent, often involving power imbalance, manipulation, or coercion.

Invincibility Fable

A cognitive bias often observed in adolescents who believe they cannot be harmed by risky behaviors.

Deductive Reasoning

A reasoning method where a conclusion is drawn from the agreement of several premises, which are typically believed to be true.