Question: Assume that a U.S. company makes a purchase from a British company and agrees to pay a price of 2 million. a. How will the

Assume that a U.S. company makes a purchase from a British company and agrees to pay a price of £2 million.
a. How will the U.S. company determine the cost of this purchase for the purpose of recording it in its accounting records?
b. Briefly explain how the U.S. company can arrange for the payment of pounds to the British company.

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