Under the temporal method of consolidating foreign currency financial statements,what exchange rate should be used for translating the depreciation expense recorded by a subsidiary?
A)average rate
B)current rate
C)historical rate
D)forward rate

Question

Quizplus · Accepted Answer

Under the temporal method, non-monetary items and related expenses like depreciation are translated using the historical rate, which is the exchange rate at the time the asset was acquired.

Under the Temporal Method of Consolidating Foreign Currency Financial Statements,what