Examlex

Solved

Taste Bits Inc

question 37

Multiple Choice

Taste Bits Inc.purchased chocolates from Switzerland for 200,000 Swiss francs (SFr) on December 1,20X8.Payment is due on January 30,20X9.On December 1,20X8,the company also entered into a 60-day forward contract to purchase 200,000 Swiss francs.The forward contract is not designated as a hedge.The rates were as follows:
Taste Bits Inc.purchased chocolates from Switzerland for 200,000 Swiss francs (SFr) on December 1,20X8.Payment is due on January 30,20X9.On December 1,20X8,the company also entered into a 60-day forward contract to purchase 200,000 Swiss francs.The forward contract is not designated as a hedge.The rates were as follows:    -Based on the preceding information,the entries on January 30,20X9 related to the forward contract include a: A) Credit to Foreign Currency Units (SFr) ,$184,000. B) Credit to Cash,$180,000. C) Debit to Foreign Currency Transaction Loss,$4,000. D) Debit to Dollars Payable to Exchange Broker,$184,000.
-Based on the preceding information,the entries on January 30,20X9 related to the forward contract include a:


Definitions:

Productive Workers

Employees who are efficient and effective in their work, contributing significantly to the organization's goals.

Job Dissatisfaction

The feeling of unhappiness or discontentment arising from one's job, often resulting from issues like poor working conditions, low pay, or lack of recognition.

Neglect

Failing to care for or attend to something or someone, often leading to negative consequences or deterioration.

Quality of Work

The degree to which a job or task is executed or performed with excellence, meeting or exceeding the standards or requirements.

Related Questions