Question 7 Account for foreign transactions where differences occur on actual inflows and outflows resulting in and (Select the missing pair of words below to complete the sentence) realised gains and losses increased profit and retained earnings cash budget and cash flows good growth and continuity - Previous 4 pts

Question

Question 7 Account for foreign transactions where differences occur on actual inflows and outflows resulting in and (Select the missing pair of words below to complete the sentence) realised gains and losses increased profit and retained earnings cash budget and cash flows good growth and continuity - Previous 4 pts

Answer 1

"realised gains and losses"

Answer 2

In accounting, where foreign transactions occur, the standard procedure factors in fluctuating currency exchange rates which might impact the actual value of inflows and outflows. So, these transactions may culminate in:## Step 1: Realised Gains and Losses.Predictable variations in foreign currency affect the worth of income (outflows and inflows). The direct result of these changes may be financial profits or deficits, otherwise known as realised gains and losses. Given that variations among actual inflows and outflows from foreign transactions are to be stated, "realised gains and losses" suits the context perfectly.### Therefore, the required pair to complete the perceived line of best fit is "realized gains and losses".

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