foreign currency gain
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Free InquiryMentor Co., a U.S. corporation, owned 100% of a Swiss corporation. The Swiss franc is the functional
currency. The remeasurement of Mentor’s financial statements resulted in a $25,000 gain at year
end. The translation of the financial statements resulted in a $40,000 gain at year end. What amount should Mentor recognize as foreign currency gain in its income statement?
A.$0
B.$25,000
C.$40,000
D.$65,000
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