Company D, a domestic entity, sold goods to a British company on 5/10 with the transaction denominated in Pounds. The sales price of the goods was 250,000, and the cost of the goods was $100,000. The receivable is payable in full on 6/10, and Company D prepares their financials monthly. Relevant exchanges rates are 5/10 1 = $1.30, 5/31 1 = $1.40, and 6/10 1 = $1.45. Based on this information, how much would accounts receivable need to be revalued by on 6/10?

Question 7 options:

$25,000 increase

$0

$25,000 decrease

$12,500 increase

Question 12 The type of government financial statement that consolidates all operations on a full accrual basis are the:

Question 12 options:

Fund financial statements

Profit and Loss Statement

Statement of Retained Earnings

Government-wide statements

An intergovernmental transfer of funds is recorded as ____________ if received prior to time period of use or collection will not generate resources available for use in current year.

Question 15 options:

	cash
	a receivable
	a debt obligation
	a deferred revenue