Under U.S. GAAP, the method used to convert financial statements of foreign subsidiaries in countries experiencing hyperinflation is:

Question

Quizplus · Accepted Answer

Under U.S. GAAP, the temporal method is used to convert the financial statements of foreign subsidiaries in countries experiencing hyperinflation. This method uses historical exchange rates for monetary items and current rates for non-monetary items.

Under US GAAP, the Method Used to Convert Financial Statements of of Foreign