A Company Has a Foreign-Currency Transaction Loss of $1,000 and a Foreign-Currency

Multiple Choice

A company has a Foreign-Currency Transaction Loss of $1,000 and a Foreign-Currency Transaction Gain of $10,000.How is this information reported on the income statement?

A) Other Losses: Foreign-Currency Transaction Loss $1,000 and Other Gains: Foreign-Currency Transaction Gain $10,000
B) Other Gains: Foreign-Currency Transaction Gain,net $9,000
C) Other Comprehensive Income: Foreign-Currency Transaction Gain $10,000 and Other Comprehensive Loss: Foreign-Currency Transaction Loss $1,000
D) Other Comprehensive Income: Foreign-Currency Transaction Gain,net $9,000