Question: The FASB Accounting Standards Codification represents the single source of authoritative U.S. generally accepted accounting principles. Required:Determine the specific citation for accounting for the following:

The FASB Accounting Standards Codification represents the single source of authoritative U.S. generally accepted accounting principles.

Required:Determine the specific citation for accounting for the following:

a) This Subtopic requires an entity to reportcomprehensive incomeeither in a single continuous financial statement or in two separate but consecutive financial statements.

b) allows such a derivative contract of a foreign currency exposure of an unrecognized firm commitment to be designated as a hedge.

c) A change in exchange rates between thefunctional currencyand the currency in which a transaction is denominated increases or decreases the expected amount of functional currency cash flows upon settlement of the transaction.That increase or decrease in expected functional currency cash flows is a foreign currencytransaction gain or lossthat generally shall be included in determining net income for the period in which theexchange ratechanges.

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