The Following Information Pertains to Questions

question 19

Multiple Choice

The following information pertains to questions
On January 1,2013,Canadian Music International (CMI) ,a manufacturer of high-end recording equipment based in Toronto,shipped $120,000 worth of inventory to its main U.S.distributor in Chicago,with full payment of these goods to be paid by February 28,2013.CMI has a January 31 year end.A list of significant dates and exchange rates is shown below. The invoice price billed by CMI was $120,000 U.S.
-What is the amount of CMI's foreign exchange gain or loss on February 28th?

• A)$360 Loss.
• B)$120 Gain.
• C)$360 Gain.
• D)$480 Gain.

---

Definitions:

Blackmailing

The act of threatening to reveal potentially damaging information about someone unless a demand or request is met.

Power Base

The foundation from which an individual or group derives the authority or ability to influence others.

Influence Tactic

Strategies or actions used to direct or change the behavior or attitudes of others in a desired direction.

Power Distance Cultures

Cultures in which there is an acceptance of the unequal distribution of power in institutions and organizations.