Which of the following methods for translating foreign currency financial statements is required to be used under IAS 21?
A) Current/Non-current method
B) Monetary/Non-monetary method
C) Temporal method
D) All of the above may be used under IAS 21.

Question

Quizplus · Accepted Answer

IAS 21 requires the use of the temporal method for translating foreign currency financial statements. The other methods may be used, but only if they result in a translation that is substantially the same as one using the temporal method.

Which of the Following Methods for Translating Foreign Currency Financial