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Foreign currency nonmonetary assets and liabilities for non-free-standing subsidiaries are translated using the: Multiple Choice present value rate of exchange when the translation takes place.

Foreign currency nonmonetary assets and liabilities for non-free-standing subsidiaries are translated using the:

Multiple Choice

  • present value rate of exchange when the translation takes place.

  • current rate of exchange on the balance sheet date.

  • historic rate of exchange in effect when the asset or liability was acquired or incurred.

  • temporal rate of exchange on the balance sheet date.

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