Under the Current Rate Method

Multiple Choice

Under the Current Rate Method:

A) Only current balance sheet items excluding shareholders equity are translated using the closing rate in effect at the balance sheet date.
B) All balance sheet items are translated using the closing rate in effect at the balance sheet date.
C) All balance sheet items are translated using the average rate in effect throughout the year.
D) Only non-current balance sheet items are translated using the closing rate in effect at the balance sheet date.