In General, If the Japanese Subsidiary of a U

question 29

Multiple Choice

In general, if the Japanese subsidiary of a U.S. company firm translates its financial statements according to the current rate method during a period when the value of the Japanese yen is falling against the reporting currency (the U.S. dollar) , the subsidiary will recognize a

• A) translation gain in the income statement.
• B) translation loss in the income statement.
• C) translation gain in the accumulated translation adjustment account in owners' equity.
• D) translation loss in the accumulated translation adjustment account in owners' equity.

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