A company is translating account balances from another currency into dollars for its December 31, 20X5 statement of financial position and its calendar year 20X5 earnings statement and statement of cash flows. The average exchange rate for the year 20X5 should be used to translate:

	a.	land purchased in 20X3
	b.	retained earnings in January 1, 20X5
	c.	sales for 20X5
	d.	cash at December 31, 20X5

Answer rating: 100% (QA)

Option C sales for 20X5 ExplanationSince the sales were made regulary the excha... View the full answer