CFA Practice Question

There are 334 practice questions for this study session.

CFA Practice Question

In the remeasurement of the trial balance of a foreign branch to its U.S. dollars functional currency, the average exchange rate for the accounting period is applied to the balance of which ledger account?

A. Sales.
B. Notes Payable.
C. Accumulated Depreciation.
Correct Answer: A

User Contributed Comments 2

User Comment
danlan2 Which rate is used for accumulated depreciation? Historic exchange rate?
anricus28 Yes
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