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| Ortiz had told the junior analysts to make sure they understand the different accounting rules under SFAS 52. When referring to foreign exchange rates, the difference between remeasurement and translation is that remeasurement: A. and translation refer to the same process of translating the functional currency into the reporting currency. B. is used to describe historical exchange rates while translation is used for current rates. C. refers to the conversion of local currency into the functional currency; translation is the conversion of the functional currency into the reporting currency. |