For Each of the Following Situations,select the Best Answer Concerning

Essay

For each of the following situations,select the best answer concerning accounting for foreign currency transactions:
(A)Results in a foreign exchange gain.
(B)Results in a foreign exchange loss.
(C)No foreign exchange gain or loss.
_____1.Export sale by a U.S.company denominated in dollars,foreign currency of buyer appreciates.
_____2.Export sale by a U.S.company denominated in foreign currency,foreign currency of buyer appreciates.
_____3.Import purchase by a U.S.company denominated in foreign currency,foreign currency of buyer appreciates.
_____4.Import purchase by a U.S.company denominated in dollars,foreign currency of buyer appreciates.
_____5.Import purchase by a U.S.company denominated in foreign currency,foreign currency of buyer depreciates.
_____6.Import purchase by a U.S.company denominated in dollars,foreign currency of buyer depreciates.
_____7.Export sale by a U.S.company denominated in dollars,foreign currency of buyer depreciates.
_____8.Export sale by a U.S.company denominated in foreign currency,foreign currency of buyer depreciates.