1. If the foreign subsidiary of a US Corporation uses the currency of the region as its functional currency, which of the following methods would they use and where would gains and losses be reported?

A. Remeasurement, Temporal method. Income statement.

B. Translation, Current Rate method. Comprehensive income.

C. Remeasurement, Temporal method. Comprehensive income.

D. Translation, Current Rate method. Income statement

2. If the foreign subsidiary of a US Corp uses US currency as its functional currency, which of the following methods would they use?

Where would gains and losses be presented?

A. Translation, Current Rate method. Comprehensive Income

B. Translation, Current Rate method. Income statement

C. Remeasurement, Temporal method. Comprehensive income.

D. Remeasurement, Temporal Method. Income Statement