The Underlying Principle of the Monetary/nonmonetary Method Is

question 73

Multiple Choice

The underlying principle of the monetary/nonmonetary method is

• A)assets and liabilities should be translated based on their maturity.
• B)monetary balance sheet accounts should be translated at the spot rate; nonmonetary accounts are translated at the historical rate in effect when the account was first recorded.
• C)monetary accounts are translated at the current exchange rate; other accounts are translated at the current exchange rate if they are carried on the books at current value; items carried at historical cost are translated at historic exchange rates.
• D)all balance sheet accounts are translated at the current exchange rate, except stockholders' equity.

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Definitions:

Reminiscing

The process of remembering previous events or experiences, frequently accompanied by feelings of nostalgia.

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Depression

Characterized by feelings of sadness, hopelessness, and frustration; changes in sleep and eating habits; problems with concentration; loss of interest in activities; and loss of energy and motivation.

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