Under the current rate method,
A)income statement items are to be translated at the exchange rate at the dates the items are recognized.
B)an appropriately weighted average exchange rate for the period may be used for translation.
C)all balance sheet accounts are translated at the current exchange rate,except stockholder equity.
D)all of the options

Question

Quizplus · Accepted Answer

All of the options are correct under the current rate method. Income statement items are translated at the exchange rate at the dates the items are recognized. An appropriately weighted average exchange rate for the period may be used for translation. All balance sheet accounts are translated at the current exchange rate, except stockholder equity. Therefore, option D is the best choice.

Under the Current Rate Method