Kizspy Question: 25
(Choose 1 answer)
FOGUER 4DW.LOV
Financial Accounting Standards Board (FASB) Statements 8 and 52 relate to the translation methods. The
following outlines the objectives and descriptions of the two statements.
(i) Measure in dollars an enterprise's assets, liabilities, revenues, or expenses that are denominated in a
foreign currency according to generally accepted accounting principles
(ii) is essentially the temporal method of translation (with some subtle differences)
(iii) Provide information that is generally compatible with the expected economic effects of a rate change on an
enterprise's cash flows and equity
(iv) Reflect in consolidated statements the financial results and relationships of the individual consolidated
entities as measured in their functional currencies in conformity with U.S. generally accepted accounting
principles
Which of the above statements pertain to FASB 52?
A. (i)
B. (i) and (ii)
C. (iii) and (iv)
D. (i), (ii), and (iii)
