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Test: CPA Financial Accounting and Reporting (FAR)
1. | Camino Corporation reported the following items in Year 3: Foreign currency translation loss: $3,000; distributions to owners: $15,000; net income: $125,000; unamortized prior service cost on pension plan: $12,000; deferred gain on an effective cash flow hedge: $8,000. What amount should Camino report as other comprehensive income (loss) in Year 3? |
$35,000
$20,000
$32,000
$7,000
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