If the financial statements of the foreign subsidiary are maintained in the local currency and the U.S. dollar is the functional currency, they are remeasured by the temporal method.

Question

Quizplus · Accepted Answer

When the financial statements of the foreign subsidiary are maintained in the local currency and the functional currency is the U.S. dollar, they are remeasured by the temporal method, as per the accounting standards.

If the Financial Statements of the Foreign Subsidiary Are Maintained