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20 July, 05:22

When translating foreign currency financial statements for a company whose functional currency is the U. S. dollar, which of the following accounts is translated using historical exchange rates? Notes Payable - Equipmenta. Yes - Yesb. Yes - Noc. No - Nod. No - Yes

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  1. 20 July, 07:34
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    Answer: D. No-Yes

    Explanation:

    Historical currency exchange rates are foreign exchange rates which give traders a historical reference of how a currency pair has traded in the past.

    Note payable are not translated using historical exchange rates, however, equipment are.
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