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Use the following information to answer the question(s) below.
On October 4,2010,Sooty Corporation borrowed 250,000 British pounds from a London bank,evidenced by an interest-bearing note payable due in one year.The note was payable in pounds.Exchange rates for pounds were:
-What exchange gain or loss appeared on Sooty's 2010 income statement?
Allosteric Site
A region on an enzyme that is distinct from the active site and can bind regulatory molecules to change the enzyme's activity.
cAMP
Cyclic adenosine monophosphate, a second messenger important in many biological processes.
Lac Operon
A gene regulatory system found in bacteria and some other organisms that regulates the metabolism of lactose, involving an operon required for the transport and metabolism of lactose.
Cap
In molecular biology, a specially modified nucleotide on the 5’ end of eukaryotic mRNA, important for RNA stability and the initiation of translation.
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