Differences arise in relation to the treatment of which of the following when translating from the local to functional currency as opposed to the functional to presentation currency?
A) accounts receivable
B) cost of goods sold
C) depreciation expense
D) share capital

Question

Quizplus · Accepted Answer

Depreciation expense is allocated differently under different currency translations, depending on whether the translation is from local currency to functional currency or from functional currency to presentation currency. Accounts receivable, cost of goods sold, and share capital are generally treated similarly under both translations.

Differences Arise in Relation to the Treatment of Which of the Following