Which of the following methods for translating foreign currency financial statements may be used under IAS 21?
A)Current/Noncurrent method
B)Monetary/Nonmonetary method
C)Temporal method
D)All of the above may be used under IAS 21.

Question

Quizplus · Accepted Answer

Under IAS 21, the temporal method is used for translating foreign currency financial statements when the functional currency is different from the presentation currency. The other methods are not recognized under IAS 21.

Which of the Following Methods for Translating Foreign Currency Financial