According to the Current Rate Method of Translation

Multiple Choice

According to the current rate method of translation,

A) Transaction gains and losses are taken to income, but translation gains and losses are taken to the owners' equity section of the balance sheet.
B) Transaction and translation gains and losses are taken to the income statement.
C) Transaction and translation gains and losses are taken to the owners' equity section of the balance sheet.
D) Transaction gains and losses are taken to the owners' equity section of the balance sheet, but translation gains and losses are taken to the income statement.