The Balance in Newsprint Corp

question 25

Multiple Choice

The balance in Newsprint Corp.'s foreign exchange loss account was $10,000 on December 31, 20X8, before any necessary year-end adjustment relating to the following:
(1) Newsprint had a $15,000 debit resulting from the restatement in dollars of the accounts of its wholly owned foreign subsidiary for the year ended December 31, 20X8.
(2) Newsprint had an account payable to an unrelated foreign supplier, payable in the supplier's local currency unit (LCU) on January 15, 20X9. The U.S. dollar-equivalent of the payable was $50,000 on the December 1, 20X8, invoice date and $53,000 on December 31, 20X8.
Based on the information provided, in Newsprint's 20X8 consolidated income statement, what amount should be included as foreign exchange loss in computing net income, if the LCU is the functional currency and the translation method is appropriate?

• A) $28,000
• B) $13,000
• C) $25,000
• D) $8,000

Recognize the role of family and community in the care of culturally diverse clients.

Identify legal and ethical considerations in culturally competent care.

Recognize the importance of self-awareness in providing culturally safe care.

Understand the consequences of cultural assimilation and loss on health outcomes.

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Definitions:

Coping with Stress

Strategies and mechanisms that individuals use to manage and mitigate stressors in their lives.

Epinephrine

A hormone and neurotransmitter also known as adrenaline, secreted by the adrenal glands, that increases heart rate, contracts blood vessels, dilates air passages, and participates in the fight-or-flight response.

ADH

Antidiuretic Hormone, a peptide hormone that plays a crucial role in regulating water balance in the body by increasing water reabsorption in the kidneys.

Physiological Processes

Functions and activities occurring in living organisms that contribute to growth, metabolism, and reproduction.