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:

Companionate Love

A form of love characterized by deep affection, friendship, and emotional intimacy, often found in long-term relationships.

Passion

The intense feelings (both positive and negative) experienced in love relationships, including sexual desire.

Intimacy

Warmth, closeness, and sharing in a relationship.

Gender Differences

Variations in physical, psychological, and social traits that distinguish the sexes, often influenced by cultural, social, and environmental factors.