Which of the Following Primary Principles of U

question 54

Multiple Choice

Which of the following primary principles of U.S.translation procedures in NOT true?

• A) If the financial statements of the foreign subsidiary of a U.S. company are maintained in U.S. dollars, translation is not required.
• B) If the financial statements of the foreign subsidiary are maintained in the local currency and the local currency is the functional currency, they are translated by the temporal method.
• C) If the financial statements of the foreign subsidiary are maintained in the local currency and the U.S. dollar is the functional currency, they are remeasured by the temporal method.
• D) All of the above are true.

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Definitions:

Dorothea Lange

An influential American documentary photographer and photojournalist, best known for her Depression-era work for the Farm Security Administration.

Migrant Mother

A famous photograph taken by Dorothea Lange in 1936, depicting a mother and her children suffering during the Great Depression, symbolizing the plight of migrant workers.

Nipomo Valley

A region located in California's Central Coast, known for its agricultural heritage and scenic beauty.

The Eight

An early 20th-century Hungarian group of avant-garde artists who sought to introduce modernist trends into Hungarian art, challenging academic traditions.