Question
a) Assume that Alberta Shipping Products Corporation follows ASPE. Based on the information provided above, should Alberta Shipping use the temporal (i.e. FCT) method or
a) Assume that Alberta Shipping Products Corporation follows ASPE. Based on the information provided above, should Alberta Shipping use the temporal (i.e. FCT) method or the current rate (i.e. PCT) method? Give two (2) facts from the information provided to support your decision. (3 Marks) \ b) Disregard your answer to part (a). Assume that Alberta Shipping follows IFRS. Should Alberta Shipping use the Functional Currency Translation (FCT) method or the Presentation Currency Translation (PCT) method? Give two (2) facts from the information provided to support your decision. (3 Marks)
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