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A gain resulting from translating foreign currency financial statements (local currency is functional currency) into...

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Question

Accounting

A gain resulting from translating foreign currency financial statements (local currency is functional currency) into U.S. dollars should be reported as:

a.

a stockholders' equity adjustment from translation
b.

a deferred item in the balance sheet
c.

an extraordinary item in the income statement for the period in which the rates change
d.

an ordinary item in the income statement

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