In the U. S., the accounting for foreign exchange currency is done as follows: a

ID: 2563397 • Letter: I

Question

In the U. S., the accounting for foreign exchange currency is done as follows:

a. Two-transaction perspective that accrues foreign exchange gains and losses.

b. One-transaction perspective that accrues foreign exchange gains and losses.

c. Two-transaction perspective that defers foreign exchange gains and losses.

d. One-transaction perspective that defers foreign exchange gains and losses.

a. Two-transaction perspective that accrues foreign exchange gains and losses.

b. One-transaction perspective that accrues foreign exchange gains and losses.

c. Two-transaction perspective that defers foreign exchange gains and losses.

d. One-transaction perspective that defers foreign exchange gains and losses.

Explanation / Answer

The accounting for foreign exchange currency is done as Two-transaction perspective that accrues foreign exchange gains and losses. Option A is correct

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In the U. S., the accounting for foreign exchange currency is done as follows: a

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