Question: Parent uses U.S dollar as the reporting currency. When the local currency of a foreign subsidiary is the functional currency, the foreign subsidiary's non monetary

Parent uses U.S dollar as the reporting currency. When the local currency of a foreign subsidiary is the functional currency, the foreign subsidiary's non monetary accounts measured historical cost would be converted to U.S. dollars at the balance sheet date by... a. remeasurement using current exchange rates. O b. translation using average exchange rates. O c. translation using current exchange rates. O d. remeasurement using historical exchange rates

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