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Levin Company Entered into a Forward Contract to Speculate in the Foreign

Question 46

Multiple Choice

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: 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 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

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