• In translating a foreign subsidiary's financial statements, which exchange rate does the current method require for the subsidiary's assets and liabilities?
• A.the exchange rate in effect when each asset or liability was acquired.
• B.the average exchange rate for the current year.
• C.a calculated exchange rate based on market value.
• D.the exchange rate in effect as of the balance sheet date.
• E.the exchange rate in effect at the start of the current year.