Assume That Ariel Agrees to Purchase US$500,000 for C$550,000 on January

question 83

Multiple Choice

Assume that Ariel agrees to purchase US$500,000 for C$550,000 on January 15,2013.The exchange rate at year end is US$1=C$0.95 and the January 15,2013 exchange rate is US$1=C$0.97.What journal entry is required when the contract is initiated?

• A)0
• B)$65,000 loss.
• C)$75,000 gain.
• D)$75,000 loss.

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Definitions:

Action Potential

A short-lasting event in which the electrical membrane potential of a cell rapidly rises and falls, allowing neurons to communicate.

Potassium Ions

Positively charged atoms that are essential for various physiological processes in living organisms, including nerve impulse transmission and muscle contraction.

Sodium Channels

Membrane proteins involved in the conduction of sodium ions through neuronal and muscle cell membranes, crucial for generating electrical signals.

Voltage-gated Channels

Protein channels that open or close in response to changes in membrane potential, allowing ions to enter or exit cells and facilitate electrical signaling.