Match the items in the left-hand column with the descriptions/explanations in the right-hand column. Items Descriptions/Explanations 1.
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Match the items in the left-hand column with the descriptions/explanations in the right-hand column.
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Items Descriptions/Explanations 1. Current exchange rate 2. Foreign entity goodwill under translation 3. Credit translation adjustment for the year 1. Other comprehensive income- translation adjustment 5. Translation 5. Historical exchange rate A. Method used to restate a foreign entity's financial statement when the local currency unit is the functional currency. B. Method used to restate a foreign entity' s financial statements when the U. S. dollar is the functional currency. C. Currency of the environment in which an entity primarily generates and expends cash. D. Always the local currency unit of the foreign entity. E. Exchange rate at the end of the period. F. Exchange rate at the date of the asset acquisition or at the date of dividend declaration. G. Average exchange rate during the period. 7. Foreign entity goodwill under 3. remeasurement Remeasurement 9. Debit translation adjustment for the year ). Functional currency H. Periodic change in the cumulative translation adjustment. I. Method under which goodwill must be adjusted to the current exchange rate at the balance sheet date. J. Method under which goodwill is restated using the historical exchange K. rate. Increase in the Investment in Sub account. L. Decrease in the Investment in Sub account.
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Related Book For
Advanced Financial Accounting
ISBN: 9781260165111
12th Edition
Authors: Theodore Christensen, David Cottrell, Cassy Budd
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