On November 6,20X7,Zucor Corp

question 32

Multiple Choice

On November 6,20X7,Zucor Corp.purchased merchandise from an unaffiliated foreign company for 50,000 units of the foreign company's local currency.On that date,the spot rate was $1.259.Zucor paid the bill in full three months later when the spot rate was $1.258.The spot rate was $1.255 on December 31,20X7.What amount should Zucor report as a foreign currency transaction gain in its income statement for the year ended December 31,20X7?

• A)$0
• B)$50
• C)$150
• D)$200

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Definitions:

Voluntary

Voluntary refers to actions or movements made by conscious choice or decision, not compelled by external forces.

Muscle Action

The process of muscle fibers contracting and relaxing to produce movement in parts of the body.

Conscious Decision

A decision made with full awareness and deliberate thought, often involving consideration of potential consequences and alternatives.

Voluntary

An action or decision made based on an individual's own will or choice without external coercion.