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Business, 15.04.2020 00:19 gingerham1

Papco, a U. S. entity, has a subsidiary, Sapco, located in a foreign country. Sapco is essentially a sales unit for Papco. After remeasuring Sapco's financial statements from the foreign currency to Papco's reporting currency, Papco determined that it had a loss on the remeasurement. How should Papco report the loss in its consolidated financial statements?A. As an extraordinary loss.
B. As income from continuing operations.
C. As an item of other comprehensive income.
D. As a deferred item until the subsidiary is sold.

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