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Frankfurter Company, a U.S. company, had a ruble receivable from exports to Russia and a euro payable resulting from imports from Italy. Frankfurter recorded a
Frankfurter Company, a U.S. company, had a ruble receivable from exports to Russia and a euro payable resulting from imports from Italy. Frankfurter recorded a foreign exchange gain related to both its ruble receivable and euro payable. Did the foreign currencies increase or decrease in dollar value from the date of the transaction to the settlement date? (Points : 4) |
Ruble increase; Euro increase Ruble no change; Euro decrease Ruble decrease; Euro increase Ruble increase; Euro decrease Ruble decrease; Euro decrease
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