For a purchase from a foreign supplier,the purchases journal -
A)shows the amounts only in the home currency
B)always requires you to type in the exchange rate
C)always requires you to choose a currency for the transaction
D)none of the above

Question

Quizplus · Accepted Answer

The purchases journal can include transactions in foreign currencies and may automatically handle exchange rates based on system settings or allow for manual entry, meaning it doesn't exclusively show amounts in the home currency, always require typing in the exchange rate, or always require choosing a currency for the transaction.

For a Purchase from a Foreign Supplier,the Purchases Journal -