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The Average Rates in Effect for 2010 and 2011 Were

Question 31

Multiple Choice

The average rates in effect for 2010 and 2011 were as follows: What is the amount of foreign exchange gain or loss recognized on the 2011 Income Statement as a result of revaluing the loan payable? A) $2,500 loss. B) $800 loss. C) $800 gain. D) $2,500 gain. The average rates in effect for 2010 and 2011 were as follows: What is the amount of foreign exchange gain or loss recognized on the 2011 Income Statement as a result of revaluing the loan payable? A) $2,500 loss. B) $800 loss. C) $800 gain. D) $2,500 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 foreign exchange gain or loss recognized on the 2011 Income Statement as a result of revaluing the loan payable? A) $2,500 loss. B) $800 loss. C) $800 gain. D) $2,500 gain. What is the amount of foreign exchange gain or loss recognized on the 2011 Income Statement as a result of revaluing the loan payable?


A) $2,500 loss.
B) $800 loss.
C) $800 gain.
D) $2,500 gain.

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