Which of the Following Primary Principles of U

question 37

Multiple Choice

Which of the following primary principles of U.S. translation procedures is 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:

Interpreted Meaning

The perceived or understood significance of a concept or message based on one's analysis or perspective.

Efficient Communication

The ability to convey messages or information clearly and effectively with minimal waste of time and resources.

Minimum Costs

The lowest possible expenses incurred in the production of goods or services or in the operation of a company.

Resources

Assets, materials, or other items of value that are utilized by an organization or individuals to achieve desired outcomes.