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

question 28

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 merchandise is denominated in dollars,the November 30 entry to record receipt of the 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.

Acknowledge the benefits and legal considerations of employee assistance programs.

Analyze performance appraisal techniques and their legal defensibility.

Grasp the importance of goal setting in skill learning and performance appraisal.

Understand the concept of differential stress and its forms.

---

Definitions:

First Quarter

Refers to the first three months of a fiscal or calendar year (January to March), often used in financial reporting and analysis.

Finished Goods

Items that have been fully made but remain unsold or not delivered to the final consumer.

First Quarter

It refers to the first three months of a company's fiscal year (January, February, and March in a calendar year), often used in financial reporting.

Sales

Transactions involving the exchange of goods or services for money or other compensation.