Which of the following is not correct regarding the translation of a foreign entity's accounts?
a. Translation uses the historical rate at the date a foreign subsidiary was acquired for the paid-in capital amounts.
b. Translation uses the current rate method.
c. Translation should be used in a translating the accounts of a foreign entity operating in a highly inflationary economy.
d. Foreign currency translation adjustments are displayed under the accumulated comprehensive income section of the translated balance sheet.
C
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What will be an ideal response?
The ______________________________ approach forces the users to learn the new system because the old system is not available to fall back on
Fill in the blank(s) with correct word
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Indicate whether the statement is true or false