Montana Corporation a U

Multiple Choice

Montana Corporation a U.S. company, contracted to purchase foreign goods. Payment in foreign currency was due one month after delivery. Between the delivery date and the time of payment, the exchange rate changed in Montana's favor. The resulting gain should be reported in the financial statements as a(n) :

A) component of other comprehensive income.
B) component of income from continuing operations.
C) extraordinary income.
D) deferred income.