Under FAS 52, "remeasurement" is going from the functional currency to the reporting currency.

Name: Under FAS 52, "remeasurement" is going from the functional currency to the reporting currency.
Brand: Quizplus
Rating: 4.9 (40 reviews)

Question

Quizplus · Accepted Answer

Under FAS 52, "remeasurement" is the process of converting financial statements from the local currency into the functional currency, not the reporting currency. The conversion from the functional currency to the reporting currency is referred to as "translation".

Under FAS 52, "Remeasurement" Is Going from the Functional Currency