Monetary and nonmonetary method

Assignment Help Financial Accounting

Reference no: EM131257727

In the translated financial statements, which method of translation maintains the underlying valuation methods used in the foreign currency financial statements?

Monetary/nonmonetary method.

Current rate method; income statement translated at average exchange rate for the year.

Temporal method.

Current rate method; income statement translated at exchange rate at the balance sheet date.

Reference no: EM131257727

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