In Implementing FASB 52

question 12

Multiple Choice

In implementing FASB 52,

• A)the functional currency of the foreign entity must be translated into the reporting currency in which the consolidated statements are reported.
• B)the local currency of a foreign entity may not always be its functional currency. If it is not, the temporal method of translation is used to remeasure the foreign entity's books into the functional currency.
• C)the current rate method is used to translate from the functional currency to the reporting currency.
• D)in some cases, a foreign entity's functional currency may be the same as the reporting currency, in which case translation is not necessary.
• E)All of the above are true

Understand the fundamental human need to belong and its effects on behavior and mental states.

Delineate the social and psychological impacts of social acceptance versus exclusion.

Recognize the role of attraction in forming and maintaining social relationships.

Identify factors influencing relationship dynamics, including the effects of biological elements like testosterone.

---

Definitions:

Testosterone

A steroid hormone produced primarily in the testes in males and the ovaries in females, playing a key role in the development of male reproductive tissues as well as promoting secondary sexual characteristics.

Prenatally

Prenatally refers to the period that occurs before birth, during the development of the fetus inside the womb.

Left-handed

Referring to individuals who predominantly use their left hand for activities and tasks.

Cognitive Development

The process by which individuals acquire and evolve their thinking skills, problem-solving abilities, and knowledge over time.