Which of the following statements is true for the translation process (as oppose

Question

Which of the following statements is true for the translation process (as opposed to remeasurement)?
a. A translation adjustment can affect consolidated net income.
b. Equipment is translated at the historical exchange rate in effect at the date of its purchase.
c. A translation adjustment is created by the change in the relative value of a subsidiary's net assets caused by exchange rate fluctuations.
d. A translation adjustment is created by the change in the relative value of a subsidiary's monetary assets and monetary liabilities caused by exchange rate fluctuations.

Explanation / Answer

Which of the following statements is true for the translation process (as opposed to remeasurement)? a. A translation adjustment can affect consolidated net income.

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