Which of the following applies to the U.S. dollar orientation approach to the translation of foreign operations?
a. It requires an enterprise to account for foreign operations as if those operations actually occurred in U.S. dollars.
b. It recognizes that the foreign operations occurred in a foreign currency and that those operations may not affect U.S. dollars.
c. Foreign currency denominated assets, liabilities, revenues, and expenses are assumed to be measured in the foreign currency but are translated to U.S. dollars for reporting purposes.
d. The effects of changing exchange rates are not reported in income until the net assets are exchanged.
ANSWER: A
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