The Following Information Pertains to Questions

question 13

Multiple Choice

The following information pertains to questions
On July 1,2014,when the spot rate was US$1=CDN$1.1445,North Inc,based in the Alberta,ordered merchandise from an American supplier for US$600,000.Delivery was scheduled for the month of September,with payment to be made in full by December31,2014.
Once the order was placed,North entered into a forward contract with its bank to purchase US$600,000 in December at the forward rate of $1.1625CDN.The merchandise was received on October 1,2014,when the spot rate was US$1=$1.1575CDN.On October 31,the company's year-end,the spot rate was $1.1690.North purchased the U.S.dollars to pay its supplier on November 15,2014 when the spot rate was $1.1725CDN.
-What is the amount of the forward contract?

• A)$686,700
• B)$697,500
• C)$701,400
• D)$703,500

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Definitions:

Reduce Symptoms

The goal of many therapeutic approaches aimed at lessening the severity or presence of problematic or distressing signs of a condition.

Build Rapport

The process of establishing a connection and a trusting relationship between a therapist and a client, often seen as foundational for effective therapeutic work.

McDonaldization

The process by which the principles of the fast-food industry, such as efficiency and standardization, dominate other sectors of society.

Uniformity

The quality or state of being uniform; consistency in form, manner, or character among elements of a group.