Mortimer Limited Has the Following Items in Its Statement of Profit

question 3

Multiple Choice

Mortimer Limited has the following items in its statement of profit or loss and other comprehensive income: Revenue FC60 000,
Cost of goods sold FC25 000,
Interest expense FC8 000,
Income tax expense FC10 000.
All items arose evenly across the year. The following exchange rates applied:
$\begin{array}{lll}\text { End of reporting period } & F C 1= & \$ 0.80 \\\text { Average rate for year } & F C 1= & \$ 0.75\end{array}$
The net profit after tax translated into the presentation currency is:

• A) $12 750;
• B) $13 600;
• C) $21 250;
• D) $26 667.

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Definitions:

Racialized Group Members

Individuals belonging to social groups that are classified or categorized based on physical characteristics or cultural heritage perceived by the dominant group as different or inferior.

Frustration Aggression Hypothesis

A theory suggesting that frustration, or the blockage of achieving a goal, leads to aggressive behavior as a form of displaced reaction.

Reaction Formation

A defense mechanism where an individual unconsciously replaces unacceptable thoughts or feelings with their opposites.

Displacement

A defense mechanism where emotional impulses are redirected from the original object to a safer or less threatening object.