Q11-4 - currencies on the part of the reporting entity. An...

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Q11-4 A foreign transaction is a transaction that does not involve the exchange of currencies on the part of the reporting entity. An example of a foreign transaction is the sale of equipment by a U.S. company (the reporting entity) to a Japanese firm that is denominated in U.S. dollars. A foreign currency transaction is a transaction that does involve the exchange of
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Unformatted text preview: currencies on the part of the reporting entity. An example of a foreign currency transaction is the sale of equipment by a U.S. company (the reporting entity) to a Japanese firm that is denominated in Japanese yen....
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