If the Foreign Exchange Rate Is One Dollar for 10

question 10

Multiple Choice

If the foreign exchange rate is one dollar for 10 South African rand, then how many dollars are needed to purchase an item that costs 400 rand?

• A) 10
• B) 40
• C) 400
• D) 4,000

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Definitions:

Income Statement

A financial report that shows a company's revenues, expenses, and profits over a specific period of time.

Operating Activities

Business transactions and events related to the core business operations, including revenue and expense transactions that affect net income.

Income Statement

A financial statement that shows a company's revenues, expenses, and net income over a specific period of time.

Operating Activities

Components of a company's cash flow statement, which reflect the amounts of cash generated or spent from regular business operations.