Which method of translating foreign currency financial statements must be used according to FASB ASC 830, Foreign Currency Matters?
A. Temporal method for all subsidiaries
B. Current rate method for all subsidiaries
C. S. parent companies may choose between the temporal method and the current rate method.
D. Temporal method for subsidiaries that are closely controlled by the parent and current rate method for subsidiaries which are not
Answer:D
Which method of translating foreign currency financial statements must be used according to FASB ASC 830, Foreign Currency Matters?
A. Temporal method for all subsidiaries B. Current rate method for all subsidiaries C. S. parent companies may choose between the temporal method and the current rate method. D. Temporal method for subsidiaries that are closely controlled by the parent and current rate method for subsidiaries which are not