4.	A transaction gain or loss on a forward contract entered into as a hedge of an identifiable foreign currency commitment may be:
	A)	included as a separate item in the stockholders' equity section of the balance sheet.
	B)	recognized currently in the determination of net income.
	C)	deferred and included in the measurement of the related foreign currency transaction.
	D)	none of these.

5.	Gains from remeasuring a foreign subsidiary's financial statements from the local currency, which is NOT the functional currency, into the parent company's currency should be reported as a(n):
	A)	other comprehensive income item.
	B)	extraordinary item (net of tax).
	C)	part of continuing operations.
	D)	deferred credit.

6.	Under the temporal method, monetary assets and liabilities are translated by using the exchange rate existing at the:
	A)	beginning of the current year.
	B)	date the transaction occurred.
	C)	balance sheet date.
	D)	none of these.