Financial Accounting Standards Board Statement No. 52 requires that most assets and liabilities be translated at...

 

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Financial Accounting Standards Board Statement No. 52 requires that most assets and liabilities be translated at the current exchange rate. Translation gains and losses are recorded: in the shareholder's equity section of the balance sheet. as a normal income item on the income statement. O as an extraordinary item on the income statement. as a footnote to the financial statements. O only on income tax returns. OO00O Financial Accounting Standards Board Statement No. 52 requires that most assets and liabilities be translated at the current exchange rate. Translation gains and losses are recorded: in the shareholder's equity section of the balance sheet. as a normal income item on the income statement. O as an extraordinary item on the income statement. as a footnote to the financial statements. O only on income tax returns. OO00O

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ANSWER IS IN THE EQUITY SHAREHOLDERS SECTION OF THE BALANCE S... View the full answer