Sales revenue received in cash is entered by
a. debiting Cash and crediting Sales Revenue.
b. debiting Sales Revenue and crediting Cash.
c. debiting Cash and crediting Accounts Payable.
d. debiting Accounts Payable and crediting Cash.
Question 2
Which of the following statements is true in the case of budgeting for multinational companies?
A) While budgeting for multinational companies, managers consider difference in tax statutes as an uncontrollable factor.
B) While budgeting for multinational companies, managers do not account for foreign exchange fluctuations as the operating profits are reported in different currencies.
C) While budgeting for multinational companies, managers must be aware that budgets will not be used for evaluating performance.
D) While budgeting for multinational companies, managers are not concerned about the domestic factors of the different countries in which they operate.
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A company spends $117 500 today and has positive cash inflows of $34 000 for each of the next 6 ...