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The Average Rates in Effect for 2010 and 2011 Were

Question 40

Multiple Choice

The average rates in effect for 2010 and 2011 were as follows: What is the amount of the foreign exchange gain or loss recognized on the 2010 Income Statement as a result of revaluing the loan payable? A) A $10,000 loss. B) A $5,000 loss. C) A $5,000 gain. D) A $10,000 gain. The average rates in effect for 2010 and 2011 were as follows: What is the amount of the foreign exchange gain or loss recognized on the 2010 Income Statement as a result of revaluing the loan payable? A) A $10,000 loss. B) A $5,000 loss. C) A $5,000 gain. D) A $10,000 gain. The average rates in effect for 2010 and 2011 were as follows: The average rates in effect for 2010 and 2011 were as follows: What is the amount of the foreign exchange gain or loss recognized on the 2010 Income Statement as a result of revaluing the loan payable? A) A $10,000 loss. B) A $5,000 loss. C) A $5,000 gain. D) A $10,000 gain. What is the amount of the foreign exchange gain or loss recognized on the 2010 Income Statement as a result of revaluing the loan payable?


A) A $10,000 loss.
B) A $5,000 loss.
C) A $5,000 gain.
D) A $10,000 gain.

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