An express warranty within the meaning of the Code is created by which of the following?
a. A sample.
b. A description.
c. A promise.
d. All of these.
d
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Concerning foreign exchange trading, wholesale transactions involving more than 1 million currency units generally
a. occur between banks or with large corporate customers. b. occur only in Hong Kong and Frankfurt. c. are limited to transactions in the spot market. d. are limited to transactions in the forward market.
Refer to B&G, Inc. What type of organization was Kevin considering switching to?
a. Limited-liability corporation b. Sole proprietorship c. S-corporationd. d. Not-for-profit corporation e. Limited-liability corporation
U.S. GAAP provides several approaches to the accounting for treasury shares which include cost, par value, and constructive retirement methods
Indicate whether the statement is true or false
Parker Corp., a U.S. company, had the following foreign currency transactions during 2018:(1.) Purchased merchandise from a foreign supplier on July 5, 2018 for the U.S. dollar equivalent of $80,000 and paid the invoice on August 3, 2018 at the U.S. dollar equivalent of $82,000.(2.) On October 1, 2018 borrowed the U.S. dollar equivalent of $872,000 evidenced by a non-interest-bearing note payable in euros on October 1, 2019. The U.S. dollar equivalent of the note amount was $860,000 on December 31, 2018, and $881,000 on October 1, 2019.What amount should be included as a foreign exchange gain or loss from the two transactions for 2019?
A. $11,000 loss. B. $9,000 loss. C. $9,000 gain. D. $21,000 gain. E. $21,000 loss.