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American Bankers Association Exam CTFA Topic 2 Question 83 Discussion

Actual exam question for American Bankers Association's CTFA exam
Question #: 83
Topic #: 2
[All CTFA Questions]

Monetary items and non-monetary items carried at market value are translated into the reporting currency at the rate of exchange in effect on the balance sheet date under:

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Suggested Answer: C

by Twana at Jan 13, 2025, 12:10 PM

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Jaclyn
28 days ago
Temporal method it is! Although I do enjoy a good 'cash inflow/outflow' every now and then, if you know what I mean. *wink wink*
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Art
5 hours ago
Haha, I see what you did there with the 'cash inflow/outflow' method. But yes, temporal method is the way to go in this case.
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Marge
8 days ago
I agree, temporal method is the correct choice for translating monetary and non-monetary items at market value.
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Soledad
13 days ago
Haha, I see what you did there with the 'cash inflow/outflow' method!
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Lyla
18 days ago
Temporal method is the correct answer.
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Louvenia
1 months ago
I'm not sure, but I think it's important to understand the rationale behind each method before making a decision.
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Mitsue
1 months ago
The equity method? Really? What does that have to do with translating currency? Might as well just throw a dart at the answer choices.
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Dick
1 months ago
Well, if it's not the cash inflow/outflow method, I'm stumped. Time to call my accountant friend for a lifeline!
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Thurman
7 days ago
C) Temporal method
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Laurena
9 days ago
B) Equity method
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Thea
16 days ago
A) Dependency method
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Lai
1 months ago
I agree with Kaycee, because temporal method considers the timing of cash flows.
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Shawnna
2 months ago
Ooh, the temporal method, that's a tricky one. I better double-check the textbook on that one.
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Colene
13 days ago
Definitely. It's important to understand the method thoroughly to ensure accurate financial reporting.
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Irving
14 days ago
I remember studying that in class. It can get a bit confusing with all the different rates involved.
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Van
16 days ago
Yes, that's correct. It involves using different exchange rates for different types of assets and liabilities.
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Florencia
1 months ago
I think the temporal method is used for translating monetary items at historical rates.
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Kaycee
2 months ago
I think the answer is C) Temporal method.
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Marti
2 months ago
I think the temporal method is the correct answer here. It just makes sense to use the exchange rate on the balance sheet date, right?
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Laila
19 days ago
User 3: I think I'll go with option C, the temporal method.
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Georgiann
20 days ago
User 2: Yes, it does make sense to use the exchange rate on the balance sheet date.
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Lanie
1 months ago
User 1: I agree, the temporal method is the correct answer.
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