According to the current-rate method of translating financial statements,
A) all balance sheet accounts except capital stock are translated at the historical exchange rate.
B) every income-statement account is multiplied by the average exchange rate.
C) translation gains or losses are taken to the income statement.
D) all balance sheet accounts are translated at the current exchange rate.

Question

Quizplus · Accepted Answer

The Answer of According to the current-rate method of translating financial statements,
A) all balance sheet accounts except capital stock are translated at the historical exchange rate.
B) every income-statement account is multiplied by the average exchange rate.
C) translation gains or losses are taken to the income statement.
D) all balance sheet accounts are translated at the current exchange rate.

According to the Current-Rate Method of Translating Financial Statements