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Dave Iverson, CFA, is analyzing the recently released financial statement of Global Corp., a large multinational manufacturing company with production facilities across Europe and Southeast Asia. The company’s choice of functional currency is not disclosed, but Iverson does notice that Global Corp. does not have any cumulative translation adjustments (CTA) on its balance sheet. Which of the following statements is most accurate based upon Iverson’s observation? A. The temporal method of foreign currency translation is used exclusively. B. The current rate method of foreign currency translation is used exclusively. C. The temporal method of foreign currency translation is used for at least some of its subsidiaries. |