The Temporal Method of Translating Financial Statements Is Used When

question 8

Multiple Choice

The temporal method of translating financial statements is used when

• A) the local currency is the functional currency.
• B) the local currency is the reporting currency.
• C) the parent's reporting currency is the functional currency.
• D) the subsidiary's reporting currency is the functional currency.

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Definitions:

Characteristic

A distinguishing trait, quality, or property that defines an individual, group, or thing.

Stigma

A mark of disgrace associated with a particular circumstance, quality, or person.

Homosexuals

Individuals who are sexually attracted to people of their own sex.

Parents

Biological, adoptive, or foster individuals who care for and raise children, providing emotional, financial, and physical support.