Which foreign currency translation standard uses the following objective: "for the purpose of preparing an enterprise's financial statements, the objective of translation is to measure and express (a) in dollars and (b) in conformity with U.S. generally accepted accounting principles (GAAP) the assets, liabilities, revenues, or expenses that are measured or denominated in foreign currency."
A) Accounting Research Study #12
B) FASB Statement 8
C) FASB Statement 52
D) International Accounting Standard 14.

Question

Quizplus · Accepted Answer

The Answer of Which foreign currency translation standard uses the following objective: "for the purpose of preparing an enterprise's financial statements, the objective of translation is to measure and express (a) in dollars and (b) in conformity with U.S. generally accepted accounting principles (GAAP) the assets, liabilities, revenues, or expenses that are measured or denominated in foreign currency."
A) Accounting Research Study #12
B) FASB Statement 8
C) FASB Statement 52
D) International Accounting Standard 14.

Which Foreign Currency Translation Standard Uses the Following Objective: "For