Which of the following approaches is used in the United States in accounting for foreign currency transactions?
A. One-transaction perspective; defer foreign exchange gains and losses.
B. Two-transaction perspective; accrue foreign exchange gains and losses.
C. Three-transaction perspective; defer foreign exchange gains and losses.
D. Two-transaction perspective; defer foreign exchange gains and losses.
E. One-transaction perspective; accrue foreign exchange gains and losses.
Answer: B
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