When using the currentoncurrent method, Multiple Choice most income statement items are translated at the average exchange rate for the accounting period. revenue and expense items that are associated with noncurrent assets or liabilities are translated at the historical rate that applies to the applicable balance sheet items. depreciation expense is translated at the historical rate that applies to the applicable depreciable asset items. all of the options FASB 8 Multiple Choice required taking foreign exchange gains or losses through the income statement. caused reported earnings to fluctuate substantially from year to year. ran into acceptance problems from the accounting profession and MNCs. all of the options