Under U.S. GAAP, what method of translating foreign currency financial statements must be used for subsidiaries in highly inflationary economies?
A. Current rate method
B. Current/noncurrent method
C. Temporal method
D. Monetary/nonmonetary method
Answer:C
Under U.S. GAAP, what method of translating foreign currency financial statements must be used for subsidiaries in highly inflationary economies?
A. Current rate method B. Current/noncurrent method C. Temporal method D. Monetary/nonmonetary method