Question: Because exchange rate changes have an indirect effect on the net investment that may be realized upon sale or liquidation, but . . . prior

Because "exchange rate changes have an indirect effect on the net investment that may be realized upon sale or liquidation, but

. . .

prior to sale or liquidation, that effect is so uncertain and remote as to require that translation adjustments arising currently should not be reported as part of operating results," FASB

52

handles the effect of exchange rate changes as an adjustment to

rather than as an adjustment to

equity; net income

net income; net cash flow

net cash flow; equity

Because "exchange rate changes have an indirect

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