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QUESTION 3 AUS company enters a forward purchase contract for speculative purposes. When are gains and losses on the derivative instrument reported on the

QUESTION 3 AUS company enters a forward purchase contract for speculative purposes. When are gains and losses on the derivative instrument reported on the income statement? When the forward contract is determined to be an effective hedge b. When the forward contract is closed When the merchandise is sold d.When the forward contract changes in market value

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