CFA Practice Question

There are 334 practice questions for this study session.

CFA Practice Question

According to SFAS No. 52, the all-current method for foreign currency translation is used when:
A. The functional currency of the foreign subsidiary is the reporting (patent) currency.
B. The functional currency of the foreign subsidiary is the local currency of the subsidiary.
C. The function currency is the Euro, the common currency of the European Union.

User Contributed Comments 2

User Comment
danlan2 A. Remeasurement, temporal, local==>functional=reporting

B. Translation, all current, local=functional==>reporting
tim2 But what if there's hyperinflation? You don't then use current method so B is wrong?
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