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pochemuha
4 years ago
5

Which of the following statements is correct?

Business
1 answer:
myrzilka [38]4 years ago
7 0

Answer:

A

Explanation:

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On June 19, Don Co., a U.S. company, sold and delivered merchandise on a 30-day account to Cologne GmbH, a German corporation, f
nirvana33 [79]

Answer: $197,600

Explanation: Don Co is making a sale to Cologne GmbH and on the date of the transaction there is an exchange rate called the spot rate. Don Co will record in its books the value of the transaction on the set date at the spot rate which is:

200,000 euros @ .988

= $197,600

on the date of the settlement of the debt by Cologne GmbH, the spot rate is also considered which will be 200,[email protected] .995 = $199,000

Note that on the payment date, the exchange rate has gone up and now Don Co has a higher receivable value that what is in its book.

the difference of $1,400 ($199,000-$197,600) will now be noted in the books of Don Co as an exchange gain on the transaction.

8 0
3 years ago
Niles believes that the reports are true and does not intend to deceive Prime Business, but does not check the reports before ce
Archy [21]

The complete question is:

Niles, an accountant, certifies several audit reports on Optimal Operational Processes, Inc., Nile's client, knowing that the company intends to use the reports to borrow money from Prime Business Lending Company to buy new equipment. Niles believes that the reports are true and does not intend to deceive Prime Business, but does not check the reports before certifying them. Can Niles be held liable to Prime Business?

Answer:

Yes can be held liable

Explanation:

An accountant that certifies audits of a company is expected.to do his due diligence. In this scenario Niles believed that the reports are true without checking them.

This is an act of negligence on Nile's part and he can be held liable for damages resulting from the oversight.

The certified audit report is not only being used by Prime business but other third parties like investors and other stakeholders. Any of these can hold Mike's liable for any misleading information in the audit reports

6 0
3 years ago
Items on Company's Bank Statement The following items may appear on a bank statement: 1. Bank correction of an error from postin
lisov135 [29]

Answer:

Detailed solution is attached below:

6 0
3 years ago
Parker & Stone, Inc., is looking at setting up a new manufacturing plant in South Park to produce garden tools. The company
Bess [88]

Answer:

$17.1 million

Explanation:

The proper cash flow amount to use as the initial investment in fixed assets when evaluating this project can be calculated as follows

DATA

Fair value of land = 4.6 million

Cost to build a plant = 11.8 million

Grading cost = 0.7 million

Solution

Initial investment = Fair value of land + Cost to build a plant + Grading cost

Initial investment = $4.6 million + $11.8 million + $0.7 million

Initial investment = $17.1 million

7 0
4 years ago
Olde manufacturing, a parts supplier to the auto industry, has been using the behavioral approach to management for over 100 yea
allochka39001 [22]

<u>The answer is "False".</u>


The human relations development was an important adjustment to the sterile approach utilized inside logical administration, however its optimism  came to be considered excessively oversimplified for viable utilize. All the more as of late, the human relations view has been superseded by the behavioral science way to deal with administration.

5 0
3 years ago
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