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c. O The accumulated foreign currency translation adjustment is not included in determining the carrying amount of the disposal group in assessing impairment

c. O The accumulated foreign currency translation adjustment is not included in determining the carrying amount of the disposal group in assessing impairment

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following is a true statement regarding a disposal group classified as held for sale? (Select the best answer.) a. O Currency translation adjustments related to a disposal group that is held for sale in a foreign operation may be recycled throughout the period preceding the derecognition of the related disposal group b. Currency translation adjustments related to a disposal group that is held for sale in a foreign operation may never be recycled c. O The accumulated foreign currency translation adjustment is not included in determining the carrying amount of the disposal group in assessing impairment d. O Accounting guidance requires currency translation adjustments to be included in determining the carrying value of the disposal group that is a foreign operation that qualifies as held for sale
Transcribed Image Text:Which of the following is a true statement regarding a disposal group classified as held for sale? (Select the best answer.) a. O Currency translation adjustments related to a disposal group that is held for sale in a foreign operation may be recycled throughout the period preceding the derecognition of the related disposal group b. Currency translation adjustments related to a disposal group that is held for sale in a foreign operation may never be recycled c. O The accumulated foreign currency translation adjustment is not included in determining the carrying amount of the disposal group in assessing impairment d. O Accounting guidance requires currency translation adjustments to be included in determining the carrying value of the disposal group that is a foreign operation that qualifies as held for sale
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