Which of the Following Best Describes the Measurement of a Gain

question 19

Multiple Choice

Which of the following best describes the measurement of a gain or loss from the sale of a depreciable asset by a foreign subsidiary whose functional currency is not the local currency?

• A)​Reconstruct the journal entry on the date of the sale using the historical rate for cash and the depreciable asset and its accumulated depreciation.
• B)​Reconstruct the journal entry on the date of the sale using the current rate for cash and the historical rate for the depreciable asset and its accumulated depreciation.
• C)​Translate the gain or loss using the historical rate.
• D)​Translate gains at the current rate and losses at the historical rate.

---

Definitions:

Mass Murder

The act of killing four or more individuals at a single location and in a short period of time, typically without a cooling-off period between the murders.

Homicide Rates

The statistics or measures indicating the number of deaths due to homicide within a given population or area over a specific period of time.

U.S.

A short form for the United States, a federation comprising 50 states, a federal district, and various territories, recognized for its strong economic and military capabilities.

September 11

The date of terrorist attacks in 2001 when hijacked planes crashed into the World Trade Center in New York City and the Pentagon, leading to widespread death and destruction.