Which Method of Translating Foreign Currency Financial Statements Must Be

question 4

Multiple Choice

Which method of translating foreign currency financial statements must be used according to FASB ASC 830, Foreign Currency Matters?

• A) Temporal method for all subsidiaries
• B) Current rate method for all subsidiaries
• C) U.S. parent companies may choose between the temporal method and the current rate method
• D) Temporal method for subsidiaries that are closely controlled by the parent and current rate method for subsidiaries which are not

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Definitions:

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The practice of maintaining a generally optimistic and hopeful perspective towards life's challenges.

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A challenging transition or modification in one's life, habits, or environment that requires adaptation.

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