The Most Important Aspect of the FASB?52 Is That

question 21

Multiple Choice

The most important aspect of the FASB?52 is that

• A) it is consistent with generally accepted accounting practice that requires balance?sheet items to be valued according to their underlying measurement basis
• B) it disallows all reserves for currency losses
• C) it mandates a uniform translation standard for all firms
• D) most translation gains and losses bypass the income statement and are accumulated in a separate equity account on the parent's balance sheet

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