What exchange rate should be used to translate the common stock of Essco Ltd, a foreign subsidiary of Peako Corp., when consolidating the financial statements using the current rate method?
A. current rate
B. historical rate
C. average rate
D. cannot be determined with the information given
Answer:B
What exchange rate should be used to translate the common stock of Essco Ltd, a foreign subsidiary of Peako Corp., when consolidating the financial statements using the current rate method?
A. current rate B. historical rate C. average rate D. cannot be determined with the information given