Under US GAAP, What Method Is Required to Account for Foreign

Multiple Choice

Under U.S. GAAP, what method is required to account for foreign currency transactions?

A) A one-transaction perspective must be used.
B) The two-transaction perspective must be used.
C) A sale is not recorded until payment is received and converted to U.S. dollars.
D) A sale is not recorded until payment is received in the foreign currency.