Under current U.S. GAAP, the temporal method and the monetary-nonmonetary method produce the same results.

Question

Quizplus · Accepted Answer

The temporal method and the monetary-nonmonetary method are different approaches to foreign currency translation, and they do not produce the same results. The temporal method translates monetary items at the current exchange rate and non-monetary items at historical rates, while the monetary-nonmonetary method classifies items based on their nature and applies different translation rules, leading to different financial statement outcomes.

Under Current U