A corporation had foreign currency translation gains from converting the financial statements of its foreign...

IMA CMA-Financial-Planning-Performance-and-Analytics Question Answer

A corporation had foreign currency translation gains from converting the financial statements of its foreign operations into U.S dollars .How will these gains be reported on the corporation’s financial statements?

As a current asset on the balance sheet

As a net increase in cash in the operating activities section of the statement of cash flows

As part of net income on the income statement

As part of comprehensive income on the income statement

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A corporation had foreign currency translation gains from converting the financial statements of its foreign...

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