The Following Information Refers to Questions

question 38

Multiple Choice

The following information refers to questions
On July 1,2012 CDN purchased inventory from its main U.S.supplier RNB Enterprises at a cost of $1,000 U.S dollars.CDN's year end is on July 31.
Some important dates regarding this transaction,as well as the exchange rates in effect at each of these dates are shown below:
-What would be the amount of the foreign exchange gain or loss recorded at the balance sheet date under the one-transaction approach?

• A)Nil.
• B)A $10 Exchange Loss.
• C)A $10 Exchange Gain.
• D)A $15 Exchange Loss.

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