Which of the Following Is Not True If the Functional

question 20

Multiple Choice

Which of the following is not true if the functional currency of a foreign operation is U.S. dollars?

• A)All balance sheet items that were carried at current or future exchange prices are translated at the current exchange rate.
• B)All balance sheet items carried at past prices are translated at exchange rates existing at the time the item was acquired.
• C)All income statement items are translated at the average exchange rate for the reporting period.
• D)Exchange gains and losses arising from translation from the currency of record into the functional currency are recognized on the income statement.

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Definitions:

Lateral Bone

is not a recognized specific anatomical term for a single bone; the term may refer to any bone located on the side part of a body or limb. NO.

Forearm

The part of the arm located between the elbow and the wrist; it contains two major bones, the radius and ulna.

Radius

One of the two large bones in the forearm, positioned on the side of the thumb, important for wrist and arm movement.

Upper Limb

The part of the human body extending from the shoulder to the hand, including the arm, forearm, and hand.