ABC Inc. sells thermal compressors throughout the world. On January 1, 2019, the company sold 500 compressors to an American supplier at a total cost US$60,000 when the spot rate was US$1 = CDN$1.3750. Payment on the invoice was due by May 1, 2019. ABC entered into a 4-month hedge with its bank at a forward rate of CDN$1.40 on January 2, 2019. The forward contract was declared to be a fair value hedge of the fair value of the receivable from the American customer. ABC's year-end is on January 31, and on that date in 2019, the spot rate in effect was CDN$1.3825 and the forward rate to May 1, 2019 was CDN$1.3950. ABC received payment from its supplier on May 1, 2019 when the spot rate was US$1 = CDN$1.3975.
A summary of the significant dates and exchange rates pertaining to this transaction are as follows:
$\begin{array}{lrr}& \text{ Spot Rates }& \text{ Forward Rates }\\ \text{ january 1, }2019& \mathrm{US}\$1=\mathrm{CDN}\$1.3750& \dots -\cdots \\ \begin{array}{l}\text{ January 2, }2019\text{ (Forward contract }\\ \text{ date) }\end{array}& \text{ US }\$1=\text{ CDN }\$1.3750& \text{ US }\$1=\text{ CDN }\$1.40\\ \text{ january 31,2019 (Year-end) }& \text{ CDN }\$1.3825& \text{ CDN }\$1.3950\\ \text{ May 1, 2019 (Settlement date) }& \text{ US\$1 =CDN\$1.3975 }& \text{ US\$1 = CDN\$1.3975 }\end{array}$ *for contracts expiring on May 1, 2019
Which of the following memorandum entries best describes the signing of the forward contract on January 2, 2019?

A) ABC Inc. entered into a forward contract to pay US$60,000 in exchange for CDN$83,850 to be received from the bank on May 1, 2019.
B) ABC Inc. entered into a forward contract to pay US$60,000 in exchange for CDN$82,500 to be received from the bank on May 1, 2019.
C) ABC Inc. entered into a forward contract to pay CDN$84,000 in exchange for US$60,000 to be received from the bank on May 1, 2019.
D) ABC Inc. entered into a forward contract to pay US$60,000 in exchange for CDN$84,000 to be received from the bank on May 1, 2019.

The largest merger in American corporate history was between _____ and _______.

When can government agents obtain a search warrant?

A) When they can establish reasonable cause.
B) When they can establish probable cause.
C) When they can establish cause to a substantial certainty.
D) Anytime they have an informant.
E) Anytime the judge is in his office and they show identification as government agents.