Question: The general rule for translating liabilities denominated in a foreign currency into the functional currency is to: a. first classify the liabilities into current and

The general rule for translating liabilities denominated in a foreign currency into the functional currency is to:

a.

first classify the liabilities into current and non-current.

b.

translate all liabilities using the current rate existing at end of reporting period.

c.

first classify the liabilities as monetary or non-monetary.

d.

translate all liabilities using the rate current on entering into the transaction.

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