Question Details

(Solved by Expert Tutors) 1. The translation method in which current assets and


1. The translation method in which current assets and liabilities are translated at

current exchange rates and other assets, liabilities and owner's equity are translated at historical exchange rates is known as the(Points : 4) ??????Current-noncurrent method.
??????Monetary-nonmonetary method.
??????Temporal method.
??????Current rate method.

Question 2. 2. The currency in which the parent company prepares its financial statements is the(Points : 4)
??????Functional currency.
??????Reporting currency.
??????Historical currency.
??????Base currency.


Question 3. 3. Which foreign currency translation standard uses the following objective:?"for the purpose of preparing an enterprise's financial statements, the objective of translation is to measure and express (a) in dollars and (b) in conformity with U.S. generally accepted accounting principles (GAAP) the assets, liabilities, revenues, or expenses that are measured or denominated in foreign currency."(Points : 4)
??????Accounting Research Study #12
??????FASB Statement 8
??????FASB Statement 52
??????International Accounting Standard 14.


Question 4. 4. The currency of the primary economic environment in which the firm operates is the(Points : 4)
??????Functional currency.
??????Reporting currency.
??????Historical currency.
??????Base currency.


Question 5. 5. Current value accounting(Points : 4)
??????Is required for Dutch companies.
??????Takes into consideration that the prices of specific assets have changed.
??????Assumes that the purchasing power of money has gone up.
??????Is required by the FASB to be used in highly inflationary countries.


Question 6. 6. US SFAS 33 inflation accounting(Points : 4)
??????Used only current cost accounting
??????Was only experimental
??????Used only general purchasing power accounting
??????Allowed the use of? either general purchasing power or current cost disclosures


Question 7. 7. Inflation accounting regulations would tend to be more detailed and comprehensive in which of the following systems?(Points : 4)
??????The common law system.
??????Countries that follow the British tradition.
??????The civil law system.
??????Countries where culture is influential.


Question 8. 8. An exposed asset position(Points : 4)
??????Only exists when the foreign subsidiary?s currency is weakening
??????Is one where the liabilities translated at the current rate exceed the assets translated at the current rate
??????Is one where the assets translated at the current rate exceed the assets translated at the historical rate
??????Is one where the assets translated at the current rate exceed the liabilities translated at the current rate


Question 9. 9. An option where the holder has the right to buy foreign currency from the writer of the option is a(Points : 4)
??????Forward option.
??????Put option.
??????Call option.
??????Swap option.


 


Solution details:

Pay using PayPal (No PayPal account Required) or your credit card . All your purchases are securely protected by .
SiteLock

About this Question

STATUS

Answered

QUALITY

Approved

DATE ANSWERED

Apr 19, 2020

EXPERT

Tutor

ANSWER RATING

YES, THIS IS LEGAL

We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.

You can also use these solutions:

  • As a reference for in-depth understanding of the subject.
  • As a source of ideas / reasoning for your own research (if properly referenced)
  • For editing and paraphrasing (check your institution's definition of plagiarism and recommended paraphrase).
This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student.

NEW ASSIGNMENT HELP?

Order New Solution. Quick Turnaround

Click on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.

WE GUARANTEE, THAT YOUR PAPER WILL BE WRITTEN FROM SCRATCH AND WITHIN A DEADLINE.

Order Now