When using the current/noncurrent method,
A)most income statement items are translated at the average exchange rate for the accounting period.
B)revenue and expense items that are associated with noncurrent assets or liabilities are translated at the historical rate that applies to the applicable balance sheet items.
C)depreciation expense is translated at the historical rate that applies to the applicable depreciable asset items.
D)all of the options

Question

Quizplus · Accepted Answer

The current/noncurrent method involves translating most income statement items at the average exchange rate for the accounting period, translating revenue and expense items associated with noncurrent assets or liabilities at the historical rate, and translating depreciation expense at the historical rate that applies to the depreciable asset items.

When Using the Current/noncurrent Method