A Kuwaiti Company that uses IFRS (International GAAP) has a Foreign subsidiary that operates in Venezuela a highly inflationary economy. The Kuwaiti Dinar is the functional currency for the foreign subsidiary in Venezuela- Which method will be used to translate the financial statements of the foreign subsidiary in Venezuela?

Select one:

a. Current Rate Method after being restated for inflation with translation exchange gains or losses reported under other comprehensive income

b. None of the answers is correct

c. Temporal Method after being restated for inflation with translation exchange gains or losses reported in the income statement

d. Current Rate Method with translation gains or losses reported as other comprehensive income

e. Temporal (Historical Rate) Method with translation gains or losses reported in the income statement