Note: This Is a Kaplan CPA Review Question

Multiple Choice

Note: This is a Kaplan CPA Review Question
Gains from remeasuring a foreign subsidiary's financial statements from the local currency, which is not the functional currency, into the company's functional currency should be reported as a(an)

A) Deferred foreign exchange gain.
B) Part of continuing operations.
C) Separate component of stockholders' equity.
D) Extraordinary item, net of income taxes.