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Author Question: The Financial Accounting Standards Board (FASB) Standard No. 52 mandates that U.S.-based companies ... (Read 55 times)

stock

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on: Jul 11, 2018
The Financial Accounting Standards Board (FASB) Standard No. 52 mandates that U.S.-based companies translate their foreign-currency-denominated assets and liabilities into dollars using the current rate (translation) method.
 
  Indicate whether the statement is true or false

Question 2

A U.S. parent company's foreign retained earnings are not adjusted for currency movements to reflect each year's operating profits or losses.
 
  Indicate whether the statement is true or false


ebe

  • Sr. Member
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Reply #1 on: Jul 11, 2018
Answer to Question 1

TRUE

Answer to Question 2

FALSE


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