The Following Information Refers to Questions

question 21

Multiple Choice

The following information refers to questions
On July 1,2012 CDN purchased inventory from its main U.S.supplier RNB Enterprises at a cost of $1,000 U.S dollars.CDN's year end is on July 31.
Some important dates regarding this transaction,as well as the exchange rates in effect at each of these dates are shown below:
-At what amount would CDN record its Liability to RNB at the time of purchase?

• A)$820 U.S.
• B)$820 CDN.
• C)$810 CDN.
• D)$805 CDN.

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Definitions:

Highly Interdependent

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Descriptive Research

Research methodologies focused on observing, describing, and documenting aspects of a situation as it naturally occurs.

Rational Manner

Thinking or behaving based on logic, reason, and careful consideration of facts rather than emotions or personal biases.

Organizational Politics

The use of power and social networking within an organization to achieve changes that benefit the organization or individuals within it.