A foreign-currency transaction gain/loss is reported on the:

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Quizplus · Accepted Answer

A foreign-currency transaction gain/loss is typically reported on the income statement as other revenues/expenses. This is because it represents a gain or loss in the company's normal operating activities, rather than an extraordinary item. It is not reported as an equity account on the balance sheet, and while it may be adjusted in Retained Earnings, this adjustment is not reported on the income statement.

A Foreign-Currency Transaction Gain/loss Is Reported on The