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A gain resulting from translating foreign currency financial statements (local currency is functional currency) into U.S. dollars should be reported as: a. a stockholders' equity
A gain resulting from translating foreign currency financial statements (local currency is functional currency) into U.S. dollars should be reported as:
a. | a stockholders' equity adjustment from translation | |
b. | a deferred item in the balance sheet | |
c. | an extraordinary item in the income statement for the period in which the rates change | |
d. | an ordinary item in the income statement |
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