When translating foreign currency financial statements for a company whose functional currency is the U.S....
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Accounting
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?
a) Notes payables, yes; Equipment, Yes
b) Notes payables, Yes; Equipment, No
c) Notes payables, No; Equipment, No
d) Notes Payables, No; Equipment, Yes
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