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Under the temporal method, accounts that are remeasured using current exchange rates are Cash, receivables, and most liabilities.
Temporal Method: The temporal approach, sometimes referred to as the historical method, transforms a foreign subsidiary's currency into the parent company's currency. When the local currency of the subsidiary is different from the currency of the parent firm, this method of translating a foreign currency is applied. This is known as Temporal Method.
Current Exchange Rates: The value of one country's currency in comparison to another, this is known as Current Exchange Rates. When nations employ gold or another accepted standard, and each currency is worth a particular amount of the metal or other standard, the exchange rate is "fixed."
Under the temporal method, accounts that are remeasured using current exchange rates are Cash, receivables, and most liabilities.
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