3. Suppose that on February 1, 2020, Al Bausher LLC sold goods to Aman Trading...

80.2K

Verified Solution

Question

Accounting

image
3. Suppose that on February 1, 2020, Al Bausher LLC sold goods to Aman Trading of India worth of OMR 2000. The credit period given to Aman Trading was 1 month (i.e 1 March 2020). The foreign exchange rates were as under: February 1,2020 - 1 OMR = 180 INR March 1, 2020 -1 OMR = 182 INR Calculate, for the given transaction, if Al Bausher LLC will have a foreign exchange loss or profit? (1 Point) O Loss on Foreign Exchange OMR 33 O Loss on Foreign Exchange OMR 22 O Profit on Foreign Exchange OMR 22 Profit on Foreign Exchange OMR 33

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students