In a recent financial journal, the exchange rate between the dollar and the Japanese yen (¥) was quoted two ways:
-Refer to the above data. The number of Japanese yen equivalent to $40,000 on this date is: (rounded to whole ¥)
A) ¥3,056,000.
B) ¥5,235,602
C) Some other amount.
D) Depends upon whether the item is a receivable or a payable.
Correct Answer:
Verified
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