Accounting Quiz Ultimate Exam!
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Under the current rate method, inventory at the market would be translated at what rate?
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Current rate.
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Average rate.
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Composite amount.
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Historical rate.
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Beginning of the year rate.
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.
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- 2.
Under the current rate method, property, plant & equipment would be translated at what rate?
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Current rate.
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Average rate.
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Composite amount.
-
Historical rate.
-
Beginning of the year rate.
Correct Answer
A. Current rate. -
- 3.
Under the current rate method, the common stock would be translated at what rate?
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Current rate.
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Average rate.
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Composite amount.
-
Historical rate.
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Beginning of the year rate.
Correct Answer
A. Historical rate. -
- 4.
Under the current rate method, depreciation expense would be translated at what rate?
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Current rate.
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Average rate.
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Composite amount.
-
Historical rate.
-
Beginning of the year rate.
Correct Answer
A. Average rate. -
- 5.
Under the remeasurement method, depreciation expense would be remeasured at what rate?
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Current rate.
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Average rate.
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Composite amount.
-
Historical rate.
-
Beginning of the year rate.
Correct Answer
A. Historical rate. -
- 6.
Under the current rate method, how would the cost of goods sold be translated?
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Current rate.
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Average rate.
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Composite amount.
-
Historical rate.
-
Beginning of the year rate.
Correct Answer
A. Average rate. -
- 7.
Which accounts are remeasured (remeasurement method) using current exchange rates?
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Cash, receivables, and most liabilities.
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All assets and liabilities.
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All noncurrent assets and liabilities.
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All revenues and expenses.
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All current assets and liabilities.
Correct Answer
A. Cash, receivables, and most liabilities. -
- 8.
Which accounts are translated (current method) using current exchange rates?
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Cash, receivables, and most liabilities.
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All assets and liabilities.
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All noncurrent assets and liabilities.
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All revenues and expenses.
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All current assets and liabilities.
Correct Answer
A. All assets and liabilities. -
- 9.
Under the current rate method, retained earnings would be translated at what rate?
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Current rate.
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Average rate.
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Composite amount.
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Historical rate.
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Beginning of the year rate.
Correct Answer
A. Composite amount. -
- 10.
Under the remeasurement method, retained earnings would be remeasured at what rate?
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Current rate.
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Average rate.
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Composite amount.
-
Historical rate.
-
Beginning of the year rate.
Correct Answer
A. Composite amount. -
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Current Version
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Mar 21, 2022Quiz Edited by
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Apr 24, 2012Quiz Created by
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