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Which loss on translation of the accounts should be to

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Reference no: EM132712868

Problem 1: When translating the financial statements of a foreign operation to presentation currency, any gain or loss on translation of the accounts should be to:

A. recognized as a revenue or expense in the statement of comprehensive income.

B. transferred to a reserve in the equity section of the statement of financial position.

C. deferred and amortized over a period not greater than 20 years.

D. written off against the non-monetary assets of the foreign operation with any balance remaining recognized as a revenue or expense in the period.

Reference no: EM132712868

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