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

question 68

Multiple Choice

Assume that Barun 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 at Jan 15,2013?

• A)$10,000 gain.
• B)$10,000 loss.
• C)$75,000 gain.
• D)$75,000 loss.

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Definitions:

Organization Design

involves structuring the organizational framework to effectively and efficiently achieve business goals and adapt to changes.

Environment Nature

The natural, physical, and biological aspects of an environment, including landscapes, water, plants, and animals, and their interrelationships.

Workforce

The group of people who are employed in a specific market, organization, or economy.

Technological Interdependence

A state where the operations, functions, or successes of entities (such as organizations or countries) are mutually dependent on technology.