Problem

In accounting for foreign currency transactions, which of the following approaches is us...

In accounting for foreign currency transactions, which of the following approaches is used in the United States?

a. One-transaction perspective; accrue foreign exchange gains and losses.

b. One-transaction perspective; defer foreign exchange gains and losses.

c. Two-transaction perspective; defer foreign exchange gains and losses.

d. Two-transaction perspective; accrue foreign exchange gains and losses.

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