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Financial Accounting Standards Board (FASB) Statements 8 and 52 relate to the translation methods. The following outlines the objectives and descriptions of the two statements.
Financial Accounting Standards Board (FASB) Statements 8 and 52 relate to the translation methods. The following outlines the objectives and descriptions of the two statements. (0) Measure in dollars a firm's assets, liabilities, revenues, or expenses that are denominated in a foreign currency according to generally accepted accounting principles (ii) is essentially the temporal method of translation (ii) Reflect in consolidated statements the financial results and relationships of the individual consolidated entities as measured in their functional currencies in conformity with U.S. generally accepted accounting principles Which of the above statements pertain to FASB 8? (ii) and (iii) O (0) (i), (ii), and (iii) (i) and (ii)
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