On March 1,20X2,McBride Ltd

question 14

Multiple Choice

On March 1,20X2,McBride Ltd.issued a purchase order to Tao Heavy Machines (Singapore) Inc.to acquire a drilling machine for $400,000 SGD.On the same day,McBride entered into a forward contract to receive $400,000 SGD on July 31,20X2.The machine was delivered on June 1,20X2 and payment was made July 31,20X2.McBride has an April 30 year-end.The following information has been provided:

Assume that the transaction qualifies as a fair-value hedge.On March 1,at what amount should the forward contract be recorded?

• A)$307,440
• B)$312,400
• C)$317,600
• D)$319,800

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Definitions:

Sexual Desires

Refers to the emotional and physical attraction or need towards another individual, encompassing a wide range of feelings and behaviors.

Everyday Concerns

Issues or problems encountered in daily life that can affect individuals' mental and emotional well-being.

Bizarre Events

Unusual or strange occurrences that are out of the ordinary and can evoke surprise or curiosity.

Unconscious Desires

Hidden wishes and wants that reside in the unconscious mind, influencing behavior and thought without one's awareness.