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19 April, 23:13

On December 31, 20X8, the end of its fiscal year, Domco had a foreign currency account payable with a settlement amount greater than its previously recorded carrying amount. Which one of the following would Domco recognize for 20X8? A. No exchange gain or loss. B. Exchange gain. C. Exchange loss. D. Deferred gain.

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  1. 19 April, 23:32
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    Answer: 4.5%
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