_____ On 11/10/06, Selmax entered into a 60-day FX forward involving 100,000 British pounds to hedge a firm sales commitment. Selmax shipped the inventory on l/9/07. Direct exchange rates on the respective dates are as follows:
What is the FX gain or loss to be reported in earnings for 2006 on the FX forward?
A) $ -0-
B) $3,000 gain.
C) $3,000 loss.
D) $5,000 gain.
E) $5,000 loss.
Correct Answer:
Verified
Q235: _ The ineffective portion of an FX
Q236: _ On 11/10/06, Buymax entered into a
Q237: _ On 10/22/06, Selmax entered into a
Q238: _ On 11/10/06, Specutex entered into a
Q239: _ On 11/10/06, Buymax entered into a
Q241: _ On 10/22/06, Sellex entered into a
Q242: _ On 8/3/06, Buyox entered into a
Q243: _ On 8/3/06, Buyox entered into a
Q244: _ On 10/10/06, Selcor entered into a
Q245: _ On 10/10/06, Selcor entered into a
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