Fundamentals of Advanced Accounting 5th Edition by Joe Ben Hoyle,Thomas Schaefer,Timothy Doupnik

Exercise 59

In accounting for foreign currency transactions, which of the following approaches is used in the United States
A) One-transaction perspective; accrue foreign exchange gains and losses.
B) One-transaction perspective; defer foreign exchange gains and losses.
C) Two-transaction perspective; defer foreign exchange gains and losses.
D) Two-transaction perspective; accrue foreign exchange gains and losses.