Under the U.S. method of translation procedures, if the financial statements of the foreign subsidiary of a U.S. company are maintained in the local currency, and the local currency is the fu
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Under the U.S. method of translation procedures, if the financial statements of the foreign subsidiary of a U.S. company are maintained in the local currency, and the local currency is the functional currency, then
the translation method to be used is not obvious.
translation is accomplished through the temporal method.
translation is not required.
translation is accomplished through the current rate method.