Regardless of the functional currency, retained earnings are translated at:

Question

Quizplus · Accepted Answer

Retained earnings are considered a historical measure of a company's financial performance, and as such they should be translated using the rate in effect when they were earned and initially recorded in their functional currency. This approach ensures that the retained earnings are not inflated or deflated by fluctuations in currency exchange rates.

Regardless of the Functional Currency, Retained Earnings Are Translated At