1. A U.S. company sells merchandise to customers in Taiwan. The merchandise is priced in Taiwan dollars, and customers generally take 60 days to pay for the merchandise. The U.S. companys sales revenue, reported on its income statement, is expressed in U.S. dollars converted at:

A. The rate at the end of the accounting year

B. The rate when the sales were made

C. The rate when the company received the purchase order from the customer

D. The rate when the company received payment from the customer