Chap 11 foreign transaction and entities

Question 1

Gains and losses from goodwill and net asset foreing exchange transactions are recorded where

Answer 1

IN the other comprehensive income, the cumiliative of which is recorded in the SOFO in the equity section (Foreign exchange translation reserves)
later to p and l when they subsidiary is about be disposed of

Question 2

Gains and losses from converting operating transaction is recorded where?

Answer 2

Icome statement

Question 3

Assets and liabilities are transalated at which rate ?

Answer 3

closing rate

Question 4

incomem