Question: Average exchange rates are used to translate certain items from foreign income statements into U.S. dollars. Such averages are used to: a. Smooth out large

Average exchange rates are used to translate certain items from foreign income statements into U.S. dollars. Such averages are used to:

a.

Smooth out large exchange gains and losses

b.

Avoid using different exchange rates for some revenue and expense accounts

c.

Eliminate large and temporary fluctuations in exchange rates that may reverse in the near future

d.

Approximate the effects of using the current exchange rates in effect on the transaction dates

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