Exchange differences arising from the translation of financial statemen of a foreign operation shall be accounted for as: (using the tempor method) O Translation gain or loss as component of other comprehensive income Translation gain or loss as component of profit or loss As valuation adjustment on the company's retained earnings O Netted to the balance of foreign exchange gain or loss

Exchange differences arising from the translation of financial statemen of a foreign operation shall be accounted for as: (using the tempor method) O Translation gain or loss as component of other comprehensive income Translation gain or loss as component of profit or loss As valuation adjustment on the company's retained earnings O Netted to the balance of foreign exchange gain or loss

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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Similar questions

If the functional currency is determined to not be the foreign entity's local currency, translation is done using a. the current rate method b. the functional method c. the remeasurement method d. the derivative method
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How to translate a foreign subsidiary’s financial statements into its parent’s reporting currency using the current rate method and calculate the related translation adjustment?