Use the Following Information to Answer the Question(s) Below

question 5

Multiple Choice

Use the following information to answer the question(s) below.

On November 1, 2014, Rolleks Corporation sold merchandise to Watchem Corporation, a Swiss firm. Rolleks measured and recorded the account receivable from the sale at $107,100. Watchem paid for this account on November 30, 2014. Spot rates for Swiss francs on November 1 and November 30, respectively, were $1.05 and $1.02.

-If the sale of the merchandise was denominated in Swiss francs,the November 30 entry to record the receipt of payment from Watchem included a

• A)credit to Accounts Receivable for $104,040.
• B)credit to Exchange Gain for $3,060.
• C)debit to Cash for $107,100.
• D)debit to Exchange Loss for $3,060.

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Definitions:

Johari Window

A model that is used to improve understanding between individuals within a group, based on self-disclosure and feedback.

Active Listening

The process of fully concentrating, understanding, responding, and remembering what is being said in a conversation.

Positive Group Roles

Tasks or functions performed by individuals that contribute to the overall success and productivity of the group.

Bad Listening Habits

Ineffective or detrimental practices that hinder effective communication, such as interrupting, multitasking, or making assumptions.