Which of the Following Statements Related to the Taxation of Foreign

Which of the following statements related to the taxation of foreign currency transactions is correct?

A) All gains or losses that result from foreign currency transactions are treated as capital gains and losses.
B) When a Canadian corporation issues foreign currency debt, a gain or loss will only be recognized when the debt is repaid.
C) A foreign currency gain or loss will arise when Canadian dollars are converted to a different currency.
D) For individuals, the first $200 of foreign currency gains can always be excluded from income.