3: A.1. The Statement of Comprehensive Income

Question 1

Which of the following foreign currency items is reported in Other Comprehensive Income (OCI)?

A. Foreign currency translation adjustment from consolidating a foreign subsidiary
B. Foreign exchange gain from remeasuring a loan payable in a different currency
C. Gain from converting sales invoices in foreign currency
D. Foreign exchange loss from a short-term supplier transaction

Answer 1

The correct answer is A

Here, because we translate the money from the subsidiary company to the parent company