One of the major differences between translation methods is which balance sheet components are translated at which

Question:

One of the major differences between translation methods is which components are translated at which exchange rates, current or historical. Why would accounting practices ever use historical exchange rates?
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...