Which of the following is not true concerning the recognition of unrealized gains and losses on foreign currency translation during the consolidation process?
a. Firms do not recognize these gains/losses in current income.
b. Firms recognize these gain/losses in the statement of other comprehensive income
c. Firms increase/reduce their investment accounts by the translation gains/losses
d. Unrealized gains and losses increase/decrease other accumulated comprehensive income in shareholders' equity.
C
Business
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