8 If an export sale is denominated in the foreign currency, the exchange risk is assumed by the domestic seller bdomestic buyer c. foreign seller d foreign buyer What is the effect of a strengthening domestic currency on receivables and payables denominated in a foreign currency? a gain on both receivables and payables b. a loss on both receivables and payables c. again on receivables and a loss on payables d a loss on receivables and again on payables The association of two or more persons to carry on as co-owners of a business for profit forms 9 3 b. partnership corporation c.government entity d. all of the above 10 When is the current rate method used in converting a foreign subsidiary's financial statements? (Translation) a when the functional and local currency are the same b. when the reporting and local currency are the same c. when the functional and reporting currencies are the same, but the books are kept in the local currency d. when the functional and reporting currencies are the same and the books are kept in the reporting currency Five of eight internally reported operating segments of Rollins Company qualify for segment reporting. However, the five identified segments do not meet the 75 percent revenue test Management should: subdivide segments until there are at least 10 reportable segments b. consolidate the remaining operating segments and include them under an all other category c. select additional operating segments until the 75% threshold is met d. include the heading "corporate headquarters" as an operating segment 11 12 Adam, Bert, and Charles share profits and losses 4:3:2. When non-cash assets with a book value of $110,000 are sold for $70,000. Bert's share of the partnership loss is $17.777 b. $12,000 c. $8,888 d. None of the above 13 Form is the annual filing to the Securities and Exchange Commission made by companies whose securities are traded on one of the stock exchanges a. 10-K b. 10-Q 8-K d. None of the above c