Assume That on January 15, 2021 MAK Agrees to Purchase

question 99

Multiple Choice

Assume that on January 15, 2021 MAK agrees to purchase US$500,000 for C$550,000 for delivery on January 15, 2022. The exchange rate at MAK's December 31, 2021 year-end was US$1 = C$0.95 and the January 15, 2022 exchange rate is US$1 = C$0.97.What is the foreign exchange gain or loss recognized at Jan 15, 2022?

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

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Definitions:

Directive Leader

A leadership style wherein the leader gives specific instructions and directions to followers, focusing on task completion and adherence to rules.

Supportive Leader

A leadership approach that focuses on building trust, showing empathy and understanding, and prioritizing the well-being of team members to enhance motivation and productivity.

Coaching Leader

A leadership style focused on developing individuals, encouraging them to reach their full potential and helping them to overcome challenges.

Delegating Leader

A leadership style in which the leader assigns responsibility and authority to followers, allowing them to make decisions within certain parameters.