Refer to Instruction 10.1. If CVT locks in the forward hedge at $1.22/euro, and the spot rate when the transaction was recorded on the books was $1.25/euro, this will result in a "foreign exchange accounting transaction ________ of ________
A) loss; $90,000.
B) loss; €90,000.
C) gain; $90,000.
D) gain; €90,000.
Answer: C
Business
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