pls answer this clear and short $,$note i don't want the answer to be handwriting $1.$ Differentiate between the two methods for converting functional currency to the

Parent$/$investor$$s currency, and explain the circumstances under which each should be used.

$2.$ What is the FASB statement number that relates to translation or remeasurement of financial statements?

$3.$ Explain in words how to derive the gain or loss when translating or remeasuring financial statements. Make sure to include in your explanation how the financial statements would be affected by the foreign exchange gain or loss.