Under the _____,the exchange rate at the balance sheet date is used to translate the financial statements of a foreign subsidiary into the home currency of the multinational firm.

Question

Quizplus · Accepted Answer

The current rate method is a method of foreign currency translation under which the financial statements of a foreign subsidiary are translated into the home currency of the multinational firm at the exchange rate at the balance sheet date. This method is also known as the "closing rate" method.

Under the _____,The Exchange Rate at the Balance Sheet Date