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The CICA Handbook Section 1650 Contains Recommendations on Procedure and Accounting

Question 2

Multiple Choice

The CICA handbook section 1650 contains recommendations on procedure and accounting policy in regard to foreign operations of Canadian companies:
(i) - measure in dollars an enterprise's assets, liabilities, revenues, or expenses that are denominated in a foreign currency according to generally accepted accounting principles
(ii) - uses the temporal method of translation
(iii) - provide information that is generally compatible with the expected economic effects of a rate change on an enterprise's cash flows and equity
(iv) - uses the current rate method
-Which of the above statements pertain to self-sustaining foreign operations?


A) (i)
B) (i) and (ii)
C) (iii) and (iv)
D) (i) , (ii) , and (iii)

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