Which of the following is not true concerning the recognition of unrealized gains and losses on foreign currency translation during the consolidation process? A. Firms do not recognize these gains/losses in current income. B. Firms recognize these gain/losses in the statement of other comprehensive income C. Firms increase/reduce their investment accounts by the translation gains/losses D. Unrealized gains and losses increase/decrease other accumulated comprehensive income in shareholders’ equity
Which of the following is not true concerning the recognition of unrealized gains and losses on foreign currency
translation during the consolidation process?
A. Firms do not recognize these gains/losses in current income.
B. Firms recognize these gain/losses in the statement of other comprehensive income
C. Firms increase/reduce their investment accounts by the translation gains/losses
D. Unrealized gains and losses increase/decrease other accumulated comprehensive income in shareholders’ equity
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