Multiple choice technology packaged enterprise solutions

Foreign currency __________ is a process that restates the functional currency account balances into another currency.

  1. A. Consolidation

  2. B. Revaluation

  3. C. Translation

  4. D. None of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Translation is the correct answer because it specifically refers to the process of restating functional currency account balances into another currency, typically for consolidation purposes. Revaluation adjusts functional currency balances for foreign currency fluctuations but doesn't change the currency. Consolidation combines financial statements without currency conversion.

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