Multiple Choice
A U.S.-based company sells merchandise on account to a company in Mexico. The Mexican company wants to pay for the merchandise in pesos. If the peso decreases in value relative to the dollar, the seller will record a ________. The peso ________ relative to the dollar.
A) Foreign Currency Transaction Gain; weakens
B) Foreign Currency Transaction Gain; strengthens
C) Foreign Currency Transaction Loss; weakens
D) Foreign Currency Transaction Loss; strengthens
Correct Answer:
Verified
Correct Answer:
Verified
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