Which of the following methods for translating foreign currency financial statements is required under IAS 21?
A. Current rate method
B. Temporal method
C. Current rate method or temporal method, depending on the functional currency of the subsidiary
D. Current rate method or temporal method may be chosen by management of the parent.
Answer:C
Which of the following methods for translating foreign currency financial statements is required under IAS 21?
A. Current rate method B. Temporal method C. Current rate method or temporal method, depending on the functional currency of the subsidiary D. Current rate method or temporal method may be chosen by management of the parent.