FASB No 52 Is a Statement Issued by the Financial Accounting

Multiple Choice

FASB No. 52 is a statement issued by the Financial Accounting Standards Board requiring American MNCs to first convert the financial statement accounts of foreign subsidiaries into the country's functional currency and then translate the accounts into the parent firm's currency using the ________ method.

A) historical rate
B) all-current-rate
C) average rate
D) weighted average