On June 1, CamCo Received a Signed Agreement to Sell

question 84

Multiple Choice

On June 1, CamCo received a signed agreement to sell inventory for ¥500,000.The sale would take place in 90 days.CamCo immediately signed a 90-day forward contract to sell the yen as soon as they are received.The spot rate on June 1 was ¥1 =$.004167, and the 90-day forward rate was ¥1 = $.00427.At what amount would CamCo record the Forward Contract on June 1?

• A) $2,083.
• B) $ 0.
• C) $2,110.
• D) $2,532.
• E) $2,135.

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Definitions:

Autonomic Nervous System

The Autonomic Nervous System is a part of the peripheral nervous system responsible for regulating involuntary body functions, such as heart rate, digestion, and respiratory rate.

Peripheral Nervous System

The peripheral nervous system consists of all the nerves that lie outside the brain and spinal cord, responsible for transmitting sensory information to the central nervous system and carrying out motor commands.

Somatic Nervous System

A part of the peripheral nervous system associated with the voluntary control of body movements via skeletal muscles.

Neural Networks

Computational models designed to simulate the structure and function of neural connections in the human brain, used in artificial intelligence for pattern recognition, decision-making, and learning.