When Translating into the Functional Currency, Foreign Currency Denominated Non-Monetary

Multiple Choice

When translating into the functional currency, foreign currency denominated non-monetary assets measured at historical cost must be translated using the:

A) spot rate at end of reporting period.
B) average rate for the reporting period.
C) exchange rate when the historical cost was determined.
D) exchange rate when the historical cost was revalued to fair value.