The Following Information Pertains to Questions

question 9

Multiple Choice

The following information pertains to questions
ABC Inc has a single wholly-owned American subsidiary called US1 based in Los Angeles,California which was acquired January 1,2014.US1 submitted its financial statements for 2014 to ABC.Selected exchange rates in effect throughout 2014 are shown below: US1 Financial Results for 2014 were as follows: Balance Sheet For questions 17 through 22,inclusively,assume that US1 is considered to be a self-sustaining subsidiary.
-For the sake of simplicity,assume that US1's cost of sales was calculated to be $4,000,000 CDN.What is the amount of the gain or loss arising from translation?

• A)A $251,285 Gain.
• B)A $3,000 Loss.
• C)A $3,750 Gain.
• D)A $2,750 Loss.

---

Definitions:

Symbols

Are concrete objects or abstract terms that represent something else.

Abstraction Process

In thought or analysis, the method of isolating or separating properties or qualities from concrete realities to consider them independently.

Personal Terms

These terms relate to aspects or items specifically associated with or pertaining to an individual.

Intimate Relationships

Deeply personal and close connections between individuals, characterized by affection, love, trust, and mutual support.