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What is the correct answer? Hercules Corporation, a U.S. company, has an account payable of $450,000 denominated in Euro. If the direct exchange rate increases,
What is the correct answer?
Hercules Corporation, a U.S. company, has an account payable of $450,000 denominated in Euro. If the direct exchange rate increases, will Hercules experience a foreign currency transaction gain or loss on this payable? 1. a foreign currency transaction loss 2. a foreign currency transaction gain 3. a foreign currency transaction gain until the payable settles 4.I can't remember..I need a snack Step by Step Solution
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