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

1/11 questions

0%

Access results and powerful study features!

Take 15 seconds to create an account.
Start now! Create your free account and get access to features like:
  • Full length diagnostic tests
  • Invite your friends
  • Access hundreds of practice tests
  • Monitor your progress over time
  • Manage your tests and results
  • Monitor the progress of your class & students
By clicking Create Account you agree that you are at least 13 years old and you agree to the Varsity Tutors LLC Terms of Use and Privacy Policy.
Learning Tools by Varsity Tutors