_____ Which of the following statements does not hold true for the U.S. dollar unit of measure approach?
A) The relationships of items in the foreign currency financial statements are maintained in expressing the accounts in U.S. dollars.
B) It completely disregards how changes in the exchange rate affect the nonmonetary accounts.
C) A distinction is made between monetary and nonmonetary items.
D) For fixed assets, the amounts expressed in U.S. dollars are the U.S. dollar equivalents of the transactions at the time the transactions occurred.
E) None of the above.

Question

Quizplus · Accepted Answer

The Answer of _____ Which of the following statements does not hold true for the U.S. dollar unit of measure approach?
A) The relationships of items in the foreign currency financial statements are maintained in expressing the accounts in U.S. dollars.
B) It completely disregards how changes in the exchange rate affect the nonmonetary accounts.
C) A distinction is made between monetary and nonmonetary items.
D) For fixed assets, the amounts expressed in U.S. dollars are the U.S. dollar equivalents of the transactions at the time the transactions occurred.
E) None of the above.

_____ Which of the Following Statements Does Not Hold True