Gains from Remeasuring a Foreign Subsidiary's Financial Statements from the Local

question 2

Multiple Choice

Gains from remeasuring a foreign subsidiary's financial statements from the local currency, which is NOT the functional currency, into the parent company's currency should be reported as a(n) :

• A) other comprehensive income item.
• B) extraordinary item (net of tax).
• C) part of continuing operations.
• D) deferred credit.

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Definitions:

Prepared

Being prepared involves being ready and equipped to handle or address a specific situation, condition, or event.

Lip Muscles

Muscles surrounding the mouth involved in facial expressions and the articulation of speech, including the orbicularis oris.

Gilberto

Typically a person's name, which may not have a singular widely-recognized definition without context.

Trumpet

A brass musical instrument with a flared bell and three valves for producing a wide range of notes.