Question: An entity has a foreign subsidiary for which the foreign currency is the functional currency. Upon translating the subsidiary's financial statements from the foreign currency

An entity has a foreign subsidiary for which the foreign currency is the functional currency. Upon translating the subsidiary's financial statements from the foreign currency into the reporting currency, the entity is trying to determine how to report the translation adjustment. Identify the location in professional standards that indicates how to account for a translation adjustment. Using the table below, enter the exact section and paragraph with helpful information for this scenario

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