Under the temporal method, which of the following items would be translated using the historical rate?
A)Inventory
B)Accounts receivable
C)Accounts payable
D)Long-term debentures

Question

Quizplus · Accepted Answer

Under the temporal method, inventory is translated using the historical rate because it is typically valued at cost, which reflects the rate at the time of purchase.

Under the Temporal Method, Which of the Following Items Would