According to the translation process in the United States, ________.
A) companies first translate their statements into dollars, and then recast their financial statements consistent with U.S. GAAP
B) companies recast their financial statements consistent with U.S. GAAP, and then translate them into U.S. dollars
C) companies only need to worry about the translation process because local operations take place in a local GAAP environment
D) companies translate foreign currency financial statements only if the dollar is weakening against the local currency
Correct Answer:
Verified
Q55: For U.S.companies, foreign-currency-denominated receivables and payables give
Q56: If a U.S.-based MNE translates its German
Q57: Japanese companies are more likely to use
Q58: Using the same exchange rate to set
Q59: The translation method used when the functional
Q61: The United States should NOT be subject
Q62: Which legislation has forced companies to establish
Q63: U.S.-based MNEs do not like to use
Q64: Translation of foreign currency financial statements is
Q65: Which legislation triggered many foreign MNEs to
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents