Gains from remeasuring a foreign subsidiary's financial statements from the local currency, which is NOT the functional currency, into the parent company's currency should be reported as a(n):

Question

Quizplus · Accepted Answer

Gains from remeasuring a foreign subsidiary's financial statements from the local currency into the parent company's currency are reported as part of continuing operations. This is because such gains or losses are considered to result from the normal operations of the business when the local currency is not the functional currency.

Gains from Remeasuring a Foreign Subsidiary's Financial Statements from the Local