Alpha, Inc

question 73

Multiple Choice

Alpha, Inc., a U.S. company, had a receivable from a customer that was denominated in Mexican pesos. On December 31, 2010, this receivable for 75,000 pesos was correctly included in Alpha's balance sheet at $8,000. The receivable was collected on March 2, 2011, when the U.S. equivalent was $6,900. How much foreign exchange gain or loss will Alpha record on the income statement for the year ended December 31, 2011?

• A) $1,100 loss.
• B) $1,100 gain.
• C) $6,900 loss.
• D) $6,900 gain.
• E) $8,000 gain.

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Definitions:

Cerebellum

A part of the brain at the back of the skull, which regulates coordination, balance, and voluntary movements.

Output Cells

Neurons that transmit signals from the brain or spinal cord to effector cells, influencing their activity.

Cerebellar Damage

Damage to the cerebellum, a part of the brain that regulates motor movements, which can result in loss of balance, coordination, and precision in movements.

Visual Shift

The change in visual attention or focus from one point to another, which can involve saccadic movements of the eyes or cognitive redirection of focus.