9/30/2016
1st Final Quiz
Home / CBSA / REVN01B - Advanced Accounting Review / ADVANCED ACCOUNTING AS PART OF BOARD EXAM SUBJECTS / 1st Final Quiz
Started on
Friday, September 30, 2016, 1:02 PM
State Finished
Completed on Friday, September 30, 2016, 3:29 PM
Time taken 2 hours 27 mins
Marks 9.00/28.00
Grade 32.14 out of 100.00
My Courses
Question 1
Incorrect
Mark 0.00 out of 1.00
CHARLES Corp. entered into a forward contract to hedge a sale of inventory in October 26,
2016 to be collected on January 24, 2017. 72,000 FC (foreign currency) in 90 days. The
relevant exchange rates as follows:
October 26, 2016
December 31, 2016
January 24, 2017
Spot rate
P52.73
52.82
52.94
Forward rate (1/24
What is the net forex gain (loss) from this transaction and hedge that will be reported
on CHARLES’s 2016 statement of income?
Answer: (2,160)
The correct answer is: (P2,160)
http://lpu.mrooms.net/mod/quiz/review.php?attempt=1434
1/23
9/30/2016
1st Final Quiz
Question 2
Incorrect
Mark 0.00 out of 1.00
On December 1, 2016, Machupapii, Inc. entered into a 120-day forward contract to purchase
250,000 US dollars for speculative purposes. Machupapii, Inc. ᶷ鱍scal year ends on December
31. The exchange rates are as follows:
Date
December 1, 2016
December 31, 2016
January 30, 2017
March 31, 2017
Spot rate
P45.00
46.00
45.60
45.10
Forward rate (3/31/10)
P45.50
My Courses
How much is the forex gain or loss to be reported from this forward contract in 2017?
Answer: (350,000)
The correct answer is: 350,000
http://lpu.mrooms.net/mod/quiz/review.php?attempt=1434
2/23
9/30/2016
1st Final Quiz
Question 3
Incorrect
Mark 0.00 out of 1.00
On October 2, 2016, Fraser Inc. ordered a custom-built passenger van from a Japanese ᶷ鱍rm.
The purchase order is non-cancellable. The purchase price is 1,000,000 yen with delivery
and payment to be made on March 31, 2017. On October 2, 2016, Fraser, Inc. entered into a
forward contract to buy 1,000,000 yen on March 31, 2017 for P0.57. On March 31, 2017, the
custom-built passenger van was delivered.
My Courses
Spot rate (yen)
Forward rate
10/2/2016
P0.50
P0.53
12/31/2016
P0.56
P0.58
3/31/2017
P0.57
P0.57
The Firm Commitment account balance on March 31, 2017 should be:
Answer: 40,000 liability
The correct answer is: P40,000 liability
http://lpu.mrooms.net/mod/quiz/review.php?attempt=1434
3/23
9/30/2016
1st Final Quiz
Question 4
Incorrect
1.
Mark 0.00 out of 1.00
On October 2, 2016, Fraser Inc. ordered a custom-built passenger van from a Japanese
ᶷ鱍rm. The purchase order is non-cancellable. The purchase price is 1,000,000 yen with
delivery and payment to be made on March 31, 2017. On October 2, 2016, Fraser, Inc.
entered into a forward contract to buy 1,000,000 yen on March 31, 2017 for P0.57. On
March 31, 2017, the custom-built passenger van was delivered.
Spot rate (yen)
Forward rate
10/2/2016
P0.50
P0.53
12/31/2016
P0.56
P0.58
My Courses
3/31/2017
P0.57
P0.57
What is the fair value of the forward contract on December 31, 2016?
Answer: 50,000 receivable
The correct answer is: P50,000 receivable
Question 5
Incorrect
Mark 0.00 out of 1.00
CLETH Corporation issued a promissory note denominated in foreign currency for the
purchase made from an Italian supplier. The following were the related transactions: (in Italy
Lire). On December 1, CLETH Corporation purchased merchandise from an Italian supplier
for 60-day, 18% promissory note for 108,000 Italy lire, at a selling rate of 1FC to P74.20. On
December 31, the selling spot rate is 1FC to P74.85. On January 30, the selling spot rate is
1FC to P75.75.
On the settlement date, how much is the foreign exchange gain/loss?
Answer: (98,658)
The correct answer is: 98,658 loss
http://lpu.mrooms.net/mod/quiz/review.php?attempt=1434
4/23
9/30/2016
1st Final Quiz
Question 6
Incorrect
1.
Mark 0.00 out of 1.00
On October 2, 2016, Fraser Inc. ordered a custom-built passenger van from a Japanese
ᶷ鱍rm. The purchase order is non-cancellable. The purchase price is 1,000,000 yen with
delivery and payment to be made on March 31, 2017. On October 2, 2016, Fraser, Inc.
entered into a forward contract to buy 1,000,000 yen on March 31, 2017 for P0.57. On
March 31, 2017, the custom-built passenger van was delivered.
Spot rate (yen)
Forward rate
10/2/2016
P0.50
P0.53
12/31/2016
P0.56
P0.58
My Courses
3/31/2017
P0.57
P0.57
The value of the equipment on March 31, 2017 assuming fair value hedge:
Answer: 530,000
The correct answer is: P530,000
http://lpu.mrooms.net/mod/quiz/review.php?attempt=1434
5/23
9/30/2016
1st Final Quiz
Question 7
Incorrect
Mark 0.00 out of 1.00
1. The Italy branch of Manila Company reports the following results of its operations for 2016
(in Euro):
Sales
Cost of Sales
10,000 EURO
Purchases
Shipments from Manila
Inventory, End
Gross Proᶷ鱍t
Operating Expenses
Net Income
1,000
5,000
(800)
My Courses 5,200
4,800
(1,000)
3,800
Relevant exchange rates for EURO for 2016 are:
January 1
P69.20
December 31
69.95
Average rate during the year
69.50
The only shipment from Manila during the year was determined to have a cost to home
ofᶷ鱍ce of P346,500. The ending inventory was identiᶷ鱍ed to have come from shipments
from Manila. What is the translated comprehensive income of the branch in Italy?
Answer: 264,100
The correct answer is: P264,100
http://lpu.mrooms.net/mod/quiz/review.php?attempt=1434
6/23
9/30/2016
1st Final Quiz
Question 8
Incorrect
1.
Mark 0.00 out of 1.00
On October 2, 2016, Fraser Inc. ordered a custom-built passenger van from a Japanese
ᶷ鱍rm. The purchase order is non-cancellable. The purchase price is 1,000,000 yen with
delivery and payment to be made on March 31, 2017. On October 2, 2016, Fraser, Inc.
entered into a forward contract to buy 1,000,000 yen on March 31, 2017 for P0.57. On
March 31, 2017, the custom-built passenger van was delivered.
Spot rate (yen)
Forward rate
10/2/2016
P0.50
P0.53
12/31/2016
P0.56
P0.58
My Courses
3/31/2017
P0.57
P0.57
1. The value of the equipment on March 31, 2017 assuming cash 붼䶟ow hedge:
Answer: 530,000
The correct answer is: P570,000
http://lpu.mrooms.net/mod/quiz/review.php?attempt=1434
7/23
9/30/2016
1st Final Quiz
Question 9
Correct
Mark 1.00 out of 1.00
1. On January 1, 2016 an entity purchased a tract of vacant land that is situated overseas for
Baht 90,000. The entity classiᶷ鱍ed the land as an investment property. The fair value of the
land at December 31, 2016 is Baht 100,000.
The entity’s functional currency is the Php (Peso)
Spot currency exchange rates:
January 1, 2016: 1 Baht = P 2
Weighted average exchange rate in 20X0: 1 Baht = P2.04
December 31, 2016: 1 Baht = P2.1
My Courses
What is the carrying amount of the investment property at December 31, 2016 and
what amount/s would be presented in proᶷ鱍t or loss for the year ended December 31,
2016?
Select one:
a.
Carrying amount of investment property = P189,000. Pro᠀ꠄt for the year includes P9,000 foreign exchange
gain.
b.
Carrying amount of investment property = P210,000. Pro᠀ꠄt for the year includes P20,400 increase in the
fair value of investment property and P9,600 foreign exchange gain.
c.
Carrying amount of investment property = P210,000. Pro᠀ꠄt for the year includes P30,000 increase in the
fair value of investment property.
d.
Carrying amount of investment property = P180,000. Pro᠀ꠄt for the year includes no amount in respect of
the investment property.
Your answer is correct.
The correct answer is:
Carrying amount of investment property = P210,000. Proᶷ鱍t for the year includes P30,000 increase in
the fair value of investment property.
http://lpu.mrooms.net/mod/quiz/review.php?attempt=1434
8/23
9/30/2016
1st Final Quiz
Question 10
Correct
1.
Mark 1.00 out of 1.00
On October 2, 2016, Fraser Inc. ordered a custom-built passenger van from a Japanese
ᶷ鱍rm. The purchase order is non-cancellable. The purchase price is 1,000,000 yen with
delivery and payment to be made on March 31, 2017. On October 2, 2016, Fraser, Inc.
entered into a forward contract to buy 1,000,000 yen on March 31, 2017 for P0.57. On
March 31, 2017, the custom-built passenger van was delivered.
Spot rate (yen)
Forward rate
10/2/2016
P0.50
P0.53
12/31/2016
P0.56
P0.58
My Courses
3/31/2017
P0.57
P0.57
The December 31, 2016 proᶷ鱍t and loss statement, net foreign exchange gain or loss
(forward contract and ᶷ鱍rm commitment):
Answer: 0
The correct answer is: 0
http://lpu.mrooms.net/mod/quiz/review.php?attempt=1434
9/23
9/30/2016
1st Final Quiz
Question 11
Incorrect
1.
Mark 0.00 out of 1.00
Return Company acquired machinery for $169,200 from a vendor in New York on
December 1, 2016. Payment in US Dollars was due on March 31, 2017. On the same date, to
hedge this foreign currency exposure, Return entered into a futures contract to purchase
$169,200 from a BDO for delivery on March 31, 2017.
Exchange rates for US Dollars on different dates are as follows:
Selling spot rate
30-day futures
60-day futures
90-day futures
120-day futures
Dec. 1
41.4
42.3
41.8
40.6
42.2
Dec. 31
42.3
41.8
42.2
42.5
42.8
Mar. 31
43.7 My Courses
43.2
42.6
43.4
42.9
What amount will affect proᶷ鱍t or loss regarding the hedging instrument on the ᶷ鱍nancial
statement date in 2016?
Answer: (101,520)
The correct answer is: P50,760 gain
http://lpu.mrooms.net/mod/quiz/review.php?attempt=1434
10/23
9/30/2016
1st Final Quiz
Question 12
Incorrect
Mark 0.00 out of 1.00
1. Inᶷ鱍nity Corporation acquired 80 percent of the common stock of an Egyptian company on
January 1, 2016. The goodwill associated with this acquisition was $18,350. Exchange rates
at various dates during 2016 follow:
January 1
E£1 = $0.1835
December 31
E£1 = $0.1850
Average for 2016 E£1 = $0.1840
My Courses
Goodwill suffered an impairment of 20 percent during the year. If the functional
currency is the Egyptian pound, how much goodwill impairment loss should be
reported on Inᶷ鱍nity’s consolidated statement of income for 2016?
Answer: 3,680
The correct answer is: $3,680
http://lpu.mrooms.net/mod/quiz/review.php?attempt=1434
11/23
9/30/2016
1st Final Quiz
Question 13
Correct
Mark 1.00 out of 1.00
On June 1, The Company forecasted the purchase of 5,000 units of inventory from foreign vendor. The purchase would
probably occur on September 30 and require payment of 100,000 foreign currency. It is anticipated that the
inventory could be further processed and delivered to customers by early October.
On June 1, the Company purchased a call option to buy 100,000 FC at a strike price of 1 FC = P0.55 during
September. An option premium of P900 was paid. Change in the time value of the option will be excluded from
the assessment of hedge effectiveness.
Spot Rate (market price)
Strike price (exercise price)
Fair value of call option
June 1, 2016
0.53
0.55
P900
June 30 (B/S date)
0.552
0.55
P1,300
My Courses
September 30, 2016
0.56
0.55
P1,000
On September 30, the Company purchased 5,000 units of inventory cost of 103,000 FC. The option was
settled/sold on September 30, 2016 at its fair value of P1,000.
What is the foreign exchange gain or loss on option contract (hedging instrument) on September 30?
Select one:
a.
Equity
Earnings
800
Equity
Earnings
1,100
b.
1,100
(1,000)
c.
Equity
Earnings
(1,100)
Equity
Earnings
800
d.
1,000
(1,100)
Your answer is correct.
The correct answer is:
Equity
1,000
http://lpu.mrooms.net/mod/quiz/review.php?attempt=1434
Earnings
(1,100)
12/23
9/30/2016
1st Final Quiz
Question 14
Incorrect
Mark 0.00 out of 1.00
On December 1, 2016, Glenda Company whose functional currency is the Philippine peso
purchased equipment from a German Company invoiced at Euro 100,000 to be settled on
February 18, 2017. The Euro/Peso exchange rates on December 1, 2016, December 31,
2016 and February 28, 2017 were P14.28, P14.31 and P14.41, respectively. Assume Glenda
hedge the equipment purchased by a forward contract on December 1, 2016 forMy
theCourses
delivery
of Euro 100,000 on February 28, 2016 at a forward rate of P14.32. Assume further that the
forward rates for a 60-day forward and a 30-day forward at December 31, 2016 is P14.36
and P14.40, respectively, and that the forward contract is a derivative ᶷ鱍nancial instrument
that is net cash-settled upon expiry. Determine the (1) balance sheet presentation of the
forward contract at December 31, 2016 and (2) net cash settlement between counterparties
at February 28, 2017
Answer: 1) 1,436,000 receivable; 1,432,000 payable and 2) 9,000
The correct answer is: (1) P4,000 asset
http://lpu.mrooms.net/mod/quiz/review.php?attempt=1434
13/23
9/30/2016
1st Final Quiz
Question 15
Incorrect
Mark 0.00 out of 1.00
On October 2, 2016, Fraser Inc. ordered a custom-built passenger van from a Japanese ᶷ鱍rm.
The purchase order is non-cancellable. The purchase price is 1,000,000 yen with delivery
and payment to be made on March 31, 2017. On October 2, 2016, Fraser, Inc. entered into a
forward contract to buy 1,000,000 yen on March 31, 2017 for P0.57. On March 31, 2017, the
custom-built passenger van was delivered.
Spot rate (yen)
Forward rate
10/2/2016
P0.50
P0.53
12/31/2016
P0.56
P0.58
My Courses
3/31/2017
P0.57
P0.57
The December 31, 2016 foreign exchange gain or loss on the hedging instrument (forward
contract) assuming cash 붼䶟ow hedge:
Answer: 50,000
The correct answer is: P50,000 gain – OCI
http://lpu.mrooms.net/mod/quiz/review.php?attempt=1434
14/23
9/30/2016
1st Final Quiz
Question 16
Correct
Mark 1.00 out of 1.00
1. An entity purchases plant from a foreign supplier for 3 million euros on January 31, 2016,
when the exchange rate was 2 euros = 1 US dollar. At the entity’s year-end of March 31,
2016, the amount has not been paid. The closing exchange rate was 1.5 euros = 1 US dollar.
The entity’s functional currency is the US dollar. Which of the following statements is
correct?
My Courses
Select one:
a.
Cost of plant $2 million, exchange loss $0.5 million, trade payable $1.5 million
b.
Cost of plant $2 million, exchange loss $0.5 million, trade payable $2 million
c.
Cost of plant $1.5 million, exchange loss $0.5 million, trade payable $2 million
d.
Cost of plant $1.5 million, exchange loss $0.6 million, trade payable $2 million
Your answer is correct.
The correct answer is:
Cost of plant $1.5 million, exchange loss $0.5 million, trade payable $2 million
http://lpu.mrooms.net/mod/quiz/review.php?attempt=1434
15/23
9/30/2016
1st Final Quiz
Question 17
Correct
1.
Mark 1.00 out of 1.00
Paris, a wholly-owned subsidiary of Filipino Corp. is located in France. In 2016, Filipino
Corp. borrowed French francs as a partial hedge of its investment in Paris Co. on December
31, 2016, in the preparation of consolidated ᶷ鱍nancial statements, Filipino Corp’s translation
loss on its investment in the subsidiary amounted to P500,000, while its exchange gain on
the borrowing amounted to P300,000.
My Courses
What amount of gain or loss should Filipino Corp. report in consolidated balance
sheet?
Answer: (200,000)
The correct answer is: (200,000)
Question 18
Incorrect
Mark 0.00 out of 1.00
On June 15, 2016, Psalm Company purchased merchandise worth 100,000 Swiss francs from
its Swiss supplier payable within 30 days under an open account agreement. Psalm issued
a 30-day 6% note payable in Swiss francs. On July 15, 2016, Psalm paid the note in full. The
following spot rates (P/SF) are provided:
June 15, 2016
July 15, 2016
Buying
P24.03
24.15
How much is the loss on the payment to the Swiss supplier did Psalm recognize?
Answer: (7,035)
The correct answer is: 7,000
http://lpu.mrooms.net/mod/quiz/review.php?attempt=1434
16/23
9/30/2016
1st Final Quiz
Question 19
Incorrect
Mark 0.00 out of 1.00
On November 15, 2016, Celt Inc., a Philippine Company, ordered merchandise FOB shipping
point from Japanese Company for 200,000 yens. The merchandise was shipped and
invoiced to Celt on December 10, 2016. Celt paid the invoice on January 10, 2017. The spot
rates for yens on the respective dates are as follows:
November 15, 2016 P.4955
December 10, 2016 .4875
My Courses
December 31, 2016 .4675
January 10, 2017
.4475
In Celt’s December 31, 2016 income statement, the foreign exchange gain is:
Answer: 4,000
The correct answer is: P4,000
Question 20
Correct
Mark 1.00 out of 1.00
On June 18, Trisha Corporation entered into a ᶷ鱍rm commitment to purchase specialized
equipment from the Shaza Trading Company for Y80,000,000 on August 20. The exchange
rate on June 18 is Y100=P1. To reduce the exchange rate risk that could increase the cost
of the equipment in pesos, Trisha pays P12,000 for a call option contract. This contract
gives Trisha the option to purchase Y80,000,000 at an exchange rate of Y100=P1 on August
20. On August 20, the exchange rate if Y93=P1.
How much did Trisha save by purchasing the call option?
Answer: 48,215
The correct answer is: 48,215
http://lpu.mrooms.net/mod/quiz/review.php?attempt=1434
17/23
9/30/2016
1st Final Quiz
Question 21
Incorrect
Mark 0.00 out of 1.00
1. Inᶷ鱍nity Corporation acquired 80 percent of the common stock of an Egyptian company on
January 1, 2016. The goodwill associated with this acquisition was $18,350. Exchange rates
at various dates during 2016 follow:
January 1
E£1 = $0.1835
December 31
E£1 = $0.1850
Average for 2016 E£1 = $0.1840
My Courses
Goodwill suffered an impairment of 20 percent during the year. If the functional
currency is the Egyptian pound, how much goodwill impairment loss should be
reported on Inᶷ鱍nity’s consolidated statement of income for 2016?
Answer: 3,680
The correct answer is: $3,680
http://lpu.mrooms.net/mod/quiz/review.php?attempt=1434
18/23
9/30/2016
1st Final Quiz
Question 22
Incorrect
Mark 0.00 out of 1.00
1. On January 1, 2016 an entity purchased a tract of vacant land that is situated overseas for
Baht 90,000. The entity classiᶷ鱍ed the land as an investment property. The fair value of the
land at December 31, 2016 is Baht 100,000.
The entity’s functional currency is the Php (Peso)
Spot currency exchange rates:
January 1, 2016: 1 Baht = P 2
Weighted average exchange rate in 20X0: 1 Baht = P2.04
December 31, 2016: 1 Baht = P2.1
1.
My Courses
Assuming the entity cannot, without undue cost or effort, determine the fair value of its
investment property reliably on an ongoing basis. What is the carrying amount of the
investment property at December 31, 2016 and what amount/s would be presented in proᶷ鱍t
or loss for the year ended December 31, 2016?
Select one:
a.
Carrying amount of investment property = P210,000. Pro᠀ꠄt for the year includes P30,000 increase in the
fair value of investment property.
b.
Carrying amount of investment property = P180,000. Pro᠀ꠄt for the year includes no amount in respect of
the investment property.
c.
Carrying amount of investment property = P210,000. Pro᠀ꠄt for the year includes P20,400 increase in the
fair value of investment property and P9,600 foreign exchange gain.
Your answer is incorrect.
The correct answer is:
Carrying amount of investment property = P180,000. Proᶷ鱍t for the year includes no amount in respect
of the investment property.
http://lpu.mrooms.net/mod/quiz/review.php?attempt=1434
19/23
9/30/2016
1st Final Quiz
Question 23
Incorrect
Mark 0.00 out of 1.00
1. A U.S. Company’s foreign subsidiary had the following amounts in stickles (§) in 2016:
Cost of goods sold
6,000,000
Ending inventory
300,000
Beginning inventory
120,000
The average exchange rate during 2016 was §1 = $.96. The beginning inventory was
acquired when the exchange rate was §1 = $1.20. The ending inventory was
acquired
My Courses
when the exchange rate was §1 = $.90. The exchange rate at December 31, 2016 was
§1 = $.84. Assuming that the foreign country had a hyper-in붼䶟ationary economy, at what
amount should the foreign subsidiary’s cost of goods sold have been re붼䶟ected in the
2016 U.S. dollar income statement?
Answer: 5,760,000
The correct answer is: 5,040,000
Question 24
Correct
1.
Mark 1.00 out of 1.00
Catherine Corp sold handicrafts goods to a US ᶷ鱍rm for $100,000 in 2016. Pertinent
information on exchange rate follows:
Sep 4
Oct 15
Dec 13
Jan 6, 2017
Receipts of order
Date of Shipment
Date of Balance sheet
Date of settlement
Buying
45.80
47.00
47.20
46.00
Selling
46.00
48.00
48.50
47.00
The sale would appropriately recorded at:
Answer: 4,700,000
The correct answer is: 4,700,000
http://lpu.mrooms.net/mod/quiz/review.php?attempt=1434
20/23
9/30/2016
1st Final Quiz
Question 25
Correct
1.
Mark 1.00 out of 1.00
Paris, a wholly-owned subsidiary of Filipino Corp. is located in France. In 2016, Filipino
Corp. borrowed French francs as a partial hedge of its investment in Paris Co. on December
31, 2016, in the preparation of consolidated ᶷ鱍nancial statements, Filipino Corp’s translation
loss on its investment in the subsidiary amounted to P500,000, while its exchange gain on
the borrowing amounted to P300,000.
My Courses
What amount of gain or loss should Filipino Corp. report in consolidated income
statement?
Answer: 0
The correct answer is: 0
http://lpu.mrooms.net/mod/quiz/review.php?attempt=1434
21/23
9/30/2016
1st Final Quiz
Question 26
Incorrect
1.
Mark 0.00 out of 1.00
A foreign subsidiary of Cream Corporation has certain balance sheet accounts on
December 31, 2016. Information relating to these accounts in Philippine peso as follows:
Marketable debt securities
Inventories
Patents
Totals
Current rates
P65,000
500,000
80,000
645,000
Historical rates
P75,000
85,000
My Courses
What total amount should be included in Cream’s December 31, 2016 consolidated
balance sheet for the above accounts if subsidiary’s foreign operations operates
independently in economic and ᶷ鱍nancial matters (pr not integral to the operations of
the parent company):
Answer: 645,000
The correct answer is: P645,000
Question 27
Correct
Mark 1.00 out of 1.00
Beth has the following foreign currency transactions during 2016: Purchased merchandise
from a foreign supplier on January 20, 2016 for the Philippine peso equivalent of P60,000
and paid the invoice on April 20, 2016 at the Philippine peso equivalent of P68,000. On
September 1, 2016, borrowed the Philippine peso equivalent of P300,000 evidenced by a
note that is payable in the lender’s local currency on September 1, 2017. On December 31,
2016, the Philippine peso equivalent of the principal amount was P320,000.
In Beth’s 2016 income statement, what amount should be included as a foreign
exchange loss?
Answer: 28,000
The correct answer is: 28,000
http://lpu.mrooms.net/mod/quiz/review.php?attempt=1434
22/23
9/30/2016
1st Final Quiz
Question 28
Incorrect
Mark 0.00 out of 1.00
1. On Nov. 1, 2016, Cars took delivery from US ᶷ鱍rm of inventory costing US 100,000. Payment
is due on January 30, 2017. Concurrently, Cars paid P900 cash to acquire a 90 day call
option for US 100,000.
Spot rate
Strike price
FV of call option
Nov. 1, 2016
1.2
1.2
?
Dec. 31, 2016
1.22
?
2,200
Jan. 30, 2017
1.23
?
?
My Courses
What is the net FOREX gain (loss) to be recognized by Cars on Dec. 31, 2016 should be:
Answer: (700)
The correct answer is: 700 net loss
Built with Joule from Moodlerooms, powered by Moodle.
© Copyright 2016 Moodlerooms Inc, All Rights Reserved.
http://lpu.mrooms.net/mod/quiz/review.php?attempt=1434
23/23