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What is the major accounting issue involved in translation

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Question - Belmonte Corporation, with a division located in Germany, must translate its financial statements from euros to U.S. dollars. What is the major accounting issue involved in translation?

Most accountants are not conversant in foreign currency exchange.

U.S. GAAP may differ from German GAAP.

The U.S. dollar has been steadily falling relative to the euro.

The resulting balance sheet may not balance.

Reference no: EM131596803

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