Chartered Financial Analyst Level 2
Get started today
Ultimate access to all questions.
A company entered into a foreign currency transaction whose settlement date falls in a subsequent accounting period. Will the unrealized gain or loss on this foreign currency transaction be reported on the financial statements for the current period?
A company entered into a foreign currency transaction whose settlement date falls in a subsequent accounting period. Will the unrealized gain or loss on this foreign currency transaction be reported on the financial statements for the current period?
Exam-Like
A
Yes, it will be reported in the current period.
B
No, it will not be reported until the settlement period.
C
Comments
Loading comments...