Assume That on January 15, 2021 Singh Agrees to Purchase

question 71

Multiple Choice

Assume that on January 15, 2021 Singh agrees to purchase US$100,000 for C$117,000 for delivery on January 15, 2022. The exchange rate at Singh's December 31 year-end is US$1 = C$1.20 and the January 15, 2022 exchange rate is US$1 = C$1.19. What is the foreign exchange gain or loss recognized at December 31, 2021?

• A)$2,000 gain.
• B)$2,000 loss.
• C)$3,000 gain.
• D)$3,000 loss.

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Definitions:

Physical Responses

Bodily reactions to stimuli, including stress, excitement, or environmental changes.

Emotional Responses

The feelings or emotions that are elicited in an individual as a reaction to stimuli or situations.

Muscle Tension

Physical discomfort or strain in the muscles, often resulting from stress, overuse, or underlying health conditions, that can lead to pain and stiffness.

Burnout

A psychological syndrome emerging as a prolonged response to chronic interpersonal stressors on the job, characterized by exhaustion, cynicism, and a feeling of reduced professional efficacy.