Question: Under IFRS, what method is required to account for foreign currency transactions? A one-transaction perspective must be used. Either one-transaction or two-transaction perspective is allowed.

Under IFRS, what method is required to account for foreign currency transactions?

A one-transaction perspective must be used.

Either one-transaction or two-transaction perspective is allowed.

A sale is not recorded until payment is received and converted to U.S. dollars.

The two-transaction perspective must be used.

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