All of the following accounts would be translated to the domestic currency at the current rate of exchange for a subsidary with a different functional currency than the parent except:

currency translation (PCT) method, which of the following statements is correct?

Multiple Choice

• a) Sales

• b) Inventory carried at market under the lower-of-cost-or-market principle

• c) Monetary liabilities with a fixed and ascertainable long-term life

• d) Capital assets