At today's spot exchange rates 1 US doler can be exchanged for 11 Mexican pesos or for 111.47 Japanese yen. You have pesos that you would like to exchange for yen. What is the cross rate between the yen and the pese; that is, how many yen would you receive for every peso exchanged? Do not round intermediate calculations. Round your answer to two decimal places

Q: Discuss the nature of income and revenue. When can revenue be recognised?

A: Nature of income and revenue and recognition of revenue is discussed hereunder : Income is the…

Q: 18-Which one of the following category unearned revenue belong to? a. Limited liability b. Lon-term…

A: The Unearned revenue is the revenue received in cash but not earned yet.

Q: PFRS 9, Financial Instruments deals with the measurement and classification of which of the…

A: Financial Instruments deal with the measurement and classification of financial assets, Financial…

Q: investment securities for $5, 15,400 on a two-year, 8 per= 7, sold machinery for its ca machinery…

A: 1 Statement  of cash flows      For the year ended Dec 31 2017   Cash flow from operating…

Q: 33-Accounts payable is an example of a. Non-current asset b. Current asset c. Non-current liability…

A: ACCOUNTS PAYABLE REPRESENTS THE PURCHASE THAT ARE UNPAID BY THE COMPANY . THE ACCOUNTS PAYABLE…

Q: What do you mean by Assets, Liabilities, Capital, Revenues and Expenses?

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: Which of the options is an example of liability?

A: Liability is something a company  or person owes, usually a sum of money.  It denotes an obligation…

Q: Program revenues are reported in the bottom section of the statement a. True b. False

A: The statement of government wide net position reports the revenues such as program revenues, general…

Q: How was Retained Earnings obtained?

A: A corporation's retained earnings, which show the total net income the company has made and kept…

Q: 7 What are utilities, property taxes, and insurance all examples of? A O Contract contingencies. BO…

A: We first needs to understand all the terms given in the question to answer the question. Contract…

Q: hich of the following cannot be qualified as a commodity certificate? A) Certificate of will B)…

A: Commodity certificate:   It is a payment method used by a commodity credit corporation in lieu of…

Q: Question 8

A: When net credit sales is divided with average accounts receivable it results in receivable turnover…

Q: Write down any 4 quantitative disclosure related to lessee.

A: Lessee is a person in the Lease arrangement, who holds lease property or who rents property from the…

Q: Define the following terms 1. Deferred Shares 2. Revenue Expenditures

A: Shares:Shares are the units that is used to represent the ownership of the company. Share capital of…

Q: Match the type of bank income (revenue) with the associated source. Revenue received from wealth…

A: Interest Income: It is the main source of Income for banks and financial institution, interest…

Q: When a liability is paid, which account should be credited? A, Cash B.Accounts payable

A: Cash (money or coins) is legal tender that may be used to exchange products, debts, or services. It…

Q: erecognition of Provision PAS 37

A: Definition IAS 37 Provisions, Contingent Liabilities and Contingent Assets outlines the accounting…

Q: Discuss the following terms…

A: Financial market: It is the market under which bond, debentures, equities of the company are traded…

Q: What does financing activities includes?

A: Cash Flow Statement:   It is a financial statement prepared by a company to report their cash…

Q: Question 14 of 30: ALCO is Asset Liability Management committee O Asset Liability Coorporation O…

A: ALCO is a body within the organisation which helps in coordinating bank’s assets and liabilities…

Q: Loan interest income ▸ D7/84 • The sequence in determining the taxability of interest income of an…

A: The objective of the question is to understand the sequence in determining the taxability of…

Q: I nee the statement COGM, COGS and income statement

A: Income statement (IS) refers to the statement which states the income as well as loss which is…

Q: Which of the application of of a. Presenting a the related s b. Deducting fe gains and pr c.…

A: Presentation of Financial Statements PAS 1 describes the basis for presenting the general purpose…

Q: Chapter 10, Question 16: What are contingent liabilities? List three examples of contingent…

A: Contingent liabilities are the liabilities which will arise on the happening or not unhappening of…

Q: 5. Related to insurance, what is a deductible and how does it

A: In insurance scheme there is always mentioned deductible amount.

Q: 3. Explain the current liability “Accrued and other current liabilities.”

A: Liabilities: The claims creditors have over assets or resources of a company are referred to as…

Q: Net income may be based on estimates.   true or False

A: Net income: Net income is the revenue of the company after deducting all the expenses and taxes. It…

Q: Are the following statements true or false, according to IAS1 Presentation of Financial Statements?…

A: Lets discuss IAS 1 here. As per IAS 1 deals with the presentation of the financial statement. It…

Q: 13. Fees for managing and protecting a customer"s property is considered under category interest…

A: This question deals with the selection of accounting head in which fees for the managing and…

Q: two questions

A: Prepare an income statement.

Q: 14-Which one of the following supplies are exempted supplies as per VAT? a. Sports b. Education c.…

A: VAT means Value Added tax which is being applicable on sale and purchase of goods and services. This…

Q: Which concept is applied to net income and other comprehensive income? A. Borrowed Capital B.…

A:

Q: Determine if this shall result in recognition of liabilities 16.Sale of goods with product warranty…

A: Product warranty means a condition to repair or replace the sold goods for damages within certain…

Q: 20. Which of the following equation is TRUE? A. Asset + Capital = Liability Asset + Expense –…

A: Accounts are generally classified into 5 categories: Assets account Liabilities account Capital…

Q: A deposit received is reported as a * A.liability B.current asset C.investment D.revenue

A: Deposit received means amount of money received from vendors or suppliers as deposit.

Instruments of Foreign Exchange Market

Foreign exchange is a worldwide market in which one nation’s currency is converted into another nation’s currency. In further terms, exchanging of nations currency with foreign currencies. Foreign exchange happens at a specified rate which is termed the foreign exchange rate. The exchange rates are not constant continuously changing as they are derived by market forces of supply and demand. Widely used foreign currencies are the United States- dollar, Euro, Japanese Yen, British pound, and Australian dollar. US- dollar is the most denominated foreign currency. The Euro to US dollar is a widely used currency pair in the forex market as these two currencies represent the world’s enormous economy. Forex trade is simple as exchanging currencies at the bank. The main players of forex markets are the central banks, financial institutions, intermediaries, investments banks, and other banks. Central Bank is the supreme player who decides the currency value of their own nation on the forex market. Mostly foreign exchange-traded at FX market (forex market) when tourists’ visits a foreign country, import, and export happens between two countries.