You need to revaluetheforeign currency transactions in the Accounts payable subledger. Which two statements describe what the foreign currency revaluation job accomplishes? Each correct answer…

The correct answer is B. Open vendor transactions are revalued by using the effective exchange rate for the specified C. The differences between the original posted amounts and the revalued amounts are posted to. B (not A): The job uses a new exchange rate to revalue the amounts that were open, or not settled, on a specified date. C: The differences between the original posted amounts and the revalued amounts are posted to the ledger. The differences are also posted to vendor accounts…

Configuring Retail Parameters for Organizational Efficiency

Question

You need to revaluetheforeign currency transactions in the Accounts payable subledger. Which two statements describe what the foreign currency revaluation job accomplishes? Each correct answer presents a complete solution.

Options

ASettled vendor transactions are revalued by using the effective exchange rate for the specified
BOpen vendor transactions are revalued by using the effective exchange rate for the specified
CThe differences between the original posted amounts and the revalued amounts are posted to
DThe differences between the original posted amounts and the revalued amounts are posted to

How the community answered

(40 responses)

A
18% (7)
B
75% (30)
D
8% (3)

Explanation

B (not A): The job uses a new exchange rate to revalue the amounts that were open, or not settled, on a specified date. C: The differences between the original posted amounts and the revalued amounts are posted to the ledger. The differences are also posted to vendor accounts as unrealized transactions of the foreign currency revaluation

Topics

#foreign currency revaluation#AP subledger#exchange rate#open vendor transactions

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