Foreign Currency Nonmonetary Assets and Liabilities for Non-Free-Standing Subsidiaries Are

Foreign currency nonmonetary assets and liabilities for non-free-standing subsidiaries are translated using the

A) historic rate of exchange in effect when the asset or liability was acquired or incurred.
B) current rate of exchange on the balance sheet date.
C) temporal rate of exchange on the balance sheet date.
D) present value rate of exchange when the translation takes place.