Financial Accounting Standard Statement Number 52 Requires That Most Assets

question 30

Multiple Choice

Financial Accounting Standard Statement Number 52 requires that most assets and liabilities be translated at the current exchange rate. Gains and losses are recorded:

• A) against shareholder's equity.
• B) as a normal part of income.
• C) as an extraordinary item against income.
• D) as a footnote to the statements.
• E) only on the income tax statements.

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