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.

---

Definitions:

Organizational Goals

The objectives that a company aims to achieve, which guide its operations and strategic planning.

High Machs

Individuals characterized by a high Machiavellianism trait, often noted for manipulation and a strategic mindset in interpersonal relationships.

Sabotage

Sabotage involves deliberate actions aimed at damaging, disrupting, or subverting systems, processes, or organizations, often for personal gain or to make a political or social statement.

Theft

The act of stealing; the wrongful taking and carrying away of the personal goods or property of another.