Credit entries in the U.S. balance of payments (A) result from foreign sales of US. goods and services, goodwill, financial claims, and real assets (B) result from U.S. purchases of foreign goods and services, goodwill, financial claims, and real assets give rise to the demand for dollars (C) give rise to the demand for dollars (D) give rise to the supply of dollars.

Credit entries in the U.S. balance of payments (A) result from foreign sales of US. goods and services, goodwill, financial claims, and real assets (B) result from U.S. purchases of foreign goods and services, goodwill, financial claims, and real assets give rise to the demand for dollars (C) give rise to the demand for dollars (D) give rise to the supply of dollars.

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter24: Recording International And Internet Sales

Section: Chapter Questions

Problem 1ANFS

See similar textbooks

Similar questions

Foreign exchange risk arises when: A)business transactions are denominated in foreign currencies. B)sales are made to customers in a foreign country. C)goods or services are purchased from suppliers in a foreign country. D)accounting reports are prepared in a foreign currency.
Which of the following items is a "debit" item in a country's balance-of payments accounts? a. exports of services b. increased holdings of domestic bonds by foreigners c. exports of merchandise d. an increase in a domestic citizen's bank aaccount in a foreign bank
In accounting for foreign currency transactions, which of the following approaches is used in the United States?a. One-transaction perspective; accrue foreign exchange gains and losses.b. One-transaction perspective; defer foreign exchange gains and losses.c. Two-transaction perspective; defer foreign exchange gains and losses.d. Two-transaction perspective; accrue foreign exchange gains and losses.
Choose the correct. In accounting for foreign currency transactions, which of the following approaches is used in the United States?a. One-transaction perspective; accrue foreign exchange gains and losses.b. One-transaction perspective; defer foreign exchange gains and losses.c. Two-transaction perspective; defer foreign exchange gains and losses.d. Two-transaction perspective; accrue foreign exchange gains and losses.
If a U.S. company makes a credit sale to a foreign customer required to make payment in U.S. dollars, can the U.S. company have an exchange gain or loss on this sale?
Credit entries in the U.S. balance of payments A. result from foreign sales of US. goods and services, goodwill, financial claims, and real assets B. result from U.S. purchases of foreign goods and services, goodwill, financial claims, and real assets give rise to the demand for dollars. give rise to the supply of dollars. C. D. The key strengths of the public corporation is/are their capacity to allow efficient risk sharing among many investors their capacity to raise large amounts of funds at relatively low cost their capacity to consolidate decision-making
‏The Oman customer paid cash to Unites States of America is suitable to Select one : a Foreign investment b . Foreign currency translation c . Inflation accounting d Fluctuation risk
Accounting for Foreign Currency Transactions: Accounting for foreign currency transactions involves recording and reporting financial transactions denominated in a currency other than the entity's functional currency. Here are the key steps involved in handling such transactions: **1. Identifying Foreign Currency Transactions: Definition: Foreign currency transactions occur when a business entity conducts financial transactions, such as sales, purchases, or investments, in a currency different from its functional currency. Examples: Buying goods from a foreign supplier, selling products to overseas customers, or borrowing funds in a foreign currency. **2. Determining the Functional Currency: Primary Currency: Each business entity designates a functional currency, which is the primary currency used in its day-to-day operations and financial reporting. Factors Considered: Factors such as the location of the entity's primary economic activities, the currency in…
Question A summary of a country's economic transactions with foreign residents and governments is called the Answer a. current account balance. b. capital account balance. c. balance of trade. d. balance of payments.
In accordance with U.S. generally accepted accounting principles, which translation combination is appropriate for a foreign operation whose functional currency is the U.S. dollar?
Question: When accounting for foreign exchange transactions, which of the following statements accurately describes the use of the "Temporal Method" under the International Financial Reporting Standards (IFRS)? A) The Temporal Method is used to account for foreign exchange gains and losses on monetary assets and liabilities at the historical exchange rate. B) The Temporal Method is used to account for foreign exchange gains and losses on monetary assets and liabilities at the current exchange rate. C) The Temporal Method is used to account for foreign exchange gains and losses on non-monetary assets and liabilities at the historical exchange rate. D) The Temporal Method is used to account for foreign exchange gains and losses on non-monetary assets and liabilities at the current exchange rate.
what are implications for analysis of financial statements that result from the accounting for foreign currency translation?