Essay
Levin company entered into a forward contract to speculate in the foreign currency.It sold 100,000 foreign currency units under a contract dated November 1,20X8,for delivery on January 31,20X9:
In its income statement for the year ended December 31,20X8,what amount of loss should Levin report from this forward contract?
A.$0
B.$300
C.$200
D.$100
Correct Answer:
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