_____ Which of the following statements holds true for the foreign currency unit of measure approach?
A) The "disappearing plant" phenomenon does not result.
B) It is not necessary to restate the foreign financial statements to U.S. GAAP before translation into U.S. dollars.
C) It makes sense to use it when the inflation rate in the foreign country is high.
D) It produces unusual reporting results when nonmonetary assets are financed by foreign borrowings.
E) None of the above.

Question

Quizplus · Accepted Answer

The Answer of _____ Which of the following statements holds true for the foreign currency unit of measure approach?
A) The "disappearing plant" phenomenon does not result.
B) It is not necessary to restate the foreign financial statements to U.S. GAAP before translation into U.S. dollars.
C) It makes sense to use it when the inflation rate in the foreign country is high.
D) It produces unusual reporting results when nonmonetary assets are financed by foreign borrowings.
E) None of the above.

_____ Which of the Following Statements Holds True for the Foreign