Using the temporal method,monetary accounts,such as cash,
A)are not translated.
B)are translated at the average exchange rate prevailing over the reporting period.
C)are translated at the current forward exchange rate.
D)are translated at the current spot exchange rate.

Question

Quizplus · Accepted Answer

According to the temporal method, monetary accounts such as cash are translated at the current spot exchange rate. This is because current spot rates are used for current assets and liabilities, while historic rates are used for non-monetary items such as property, plant, and equipment.

Using the Temporal Method,monetary Accounts,such as Cash