Foreign Currency Transactions Approach

Mathandler1 · #1 Jul 27, 2007, 10:03 AM

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

The answer I turned in was (c). Is there someone out there that can confirm that I am right or not in giving this as my answer. and if not what is the correct answer. Thanks!

Mathandler1 · Jul 27, 2007, 10:03 AM

The answer I turned in was (c). Is there someone out there that can confirm that I am right or not in giving this as my answer. and if not what is the correct answer. Thanks!

Mathandler1 · Jul 28, 2007, 09:22 AM

Wow! I cannot believe my eyes that no one is out there that does not have his/her own thoughts regarding this question. I figure that there would be more than zero out there that would be respond with confirmation of either that I was correct or I was totally off the track with my answer. I really am interested in knowing if someone else has come up with the same asnswer as I did or with a different one. Thanks!



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