00.When is remeasurement rather than translation appropriate? How does remeasurement differ from translation?

In the translated financial statements, which method of translation maintains the underlying valuation methods used in preparing the foreign currency financial statements? a. Currentrate method; income statement translated at average exchange rate for the year b. Current rate method; income statement translated at exchange rate at the balance sheet date c. Monetaryonmonetary method d. Temporal method The functional currency of Bertrand, Inc.'s [rish subsidiary is the euro. Bertrand borrowed euros as a partial hedge of its investment in the subsidiary. Since then, the euro has decreased in value. Bertrand's negative translation adjustment on its investment in the subsidiary exceeded its foreign exchange gain on its euro borrowing. How should Bertrand report the effects of the negative translation adjustment and foreign exchange gain in its consolidated financial statements? a. Report the translation adjustment in the income statement and defer the foreign exchange gain in accumulated other comprehensive income on the balance sheet. b. Report the translation adjustment in accumulated other comprehensive income on the balance sheet and the foreign exchange gain as a gain on the income statement. c. Report the translation adjustment less the foreign exchange gain in accumulated other comprehensive income on the balance sheet. d. Report the translation adjustment less the foreign exchange gain in the income statement. In accounting, the term translation refers to a. The calculation of gains or losses from hedging transactions. b. The procedure required to identify a company's functional currency. c. The calculation of exchange rate gains or losses on individual transactions in foreign currencies. d. Aprocedure to prepare a foreign subsidiary's financial statements for consolidation. Under the temporal method. depreciation expense would be remeasured at what rate? a. Current rate. b. Average rate. c. Beginning of the year rate. d. Historical rate 3.Esposito is an Italian subsidiary of a U.S. company. Esposito's ending inventory 1s valued at the average cost for the last quarter of the year. The following account balances are available for Esposito for 2021: Beginning inventory 20,000 Purchases 400.000 Ending inventory 15,000 Relevant exchange rates follow: 4 quarter average, 2020 $093=1 December 31, 2020 0.94=1 Average for 2021 096=1 4 quarter average, 2021 0.99=1 December 31, 2021 101=1 Compute the cost of goods sold for 2021 in U_S. dollars using the current rate method. 3388,800. 5409.050. $400,950. 5387,750. an op