RWB Corporation, a U

question 6

Multiple Choice

RWB Corporation, a U.S.based company, bought inventory from a German company on June 5 for 12,000 euros, when $1 was equal to 1.20 euros.The company settled its payable with 12,000 euros on August 4 when $1 was equal to 1.25 euros.RWB's measurement currency is the U.S.dollar.RWB Corporation:

• A)​should record the inventory for $9,600.
• B)​is exposed to an economic loss on the transaction.
• C)​has an economic gain on the transaction.
• D)​should record the inventory for 12,000 euros.

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Definitions:

Union Recognition

The acknowledgment by an employer that a worker's union is the legitimate representative of the workforce, allowing for collective bargaining.

Ten-Hour Day

The labor movement's demand during the industrial revolution for a reduction in the workday to ten hours, considered a major step towards labor laws.

Civilized Nations

Refers to societies or countries that are considered advanced in terms of political, cultural, and societal development.

Uncivilized Nations

A term historically used to describe societies that colonial powers or developed countries believed lacked cultural development or sophistication according to their own standards.