Question: 6- The translation adjustment that arises when the translation process is used is disclosed as other comprehensive income. true false 2- The historical exchange rate
6- The translation adjustment that arises when the translation process is used is disclosed as other comprehensive income.
true
false
2- The historical exchange rate is the exchange rate that existed when a specific transaction occurred, such as the effective exchange rate on the day a piece of equipment was purchased.
true
false
4- If the recording currency of the subsidiary is equal to its functional currency, then all asset and debt accounts of the subsidiary are translated using the effective exchange rate on the date of preparation of the Balance sheet
true
false
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
