The Foreign-Currency Transaction Gain Account Holds Gains and Losses on Transactions

question 34

True/False

The foreign-currency transaction gain account holds gains and losses on transactions settled in a foreign currency.

---

Definitions:

Salmon Flies

Artificial fishing baits designed to imitate the adult form of salmon flies used in fly fishing.

Population

The entire group of individuals or instances about whom the research is concerned and to which the results of studies are intended to be generalized.

Annual Rainfall

A meteorological measurement indicating the total amount of precipitation received over a year in a given area.

Drought

An extended period of deficient rainfall relative to the statistical multi-year average for a region, resulting in water scarcity.