The underlying principle of the current$/$noncurrent method is

Multiple Choice

assets and liabilities should be translated based on their maturity.

all balance sheet accounts are translated at the current exchange rate, except for stockholders' equity. A "plug" equity account, named cumulative translation adjustment $($CTA$),$ is used to make the balance sheet balance, since translation gains or losses do not go through the income statement according to this method.

monetary accounts are translated at the current exchange rate; other accounts are translated at the current exchange rate if they are carried on the books at current value; items carried at historical cost are translated at historic exchange rates.

Both A and B are correct.