In accounting, the term translation refers to

In accounting, the term translation refers to

A) The calculation of gains or losses from hedging transactions.

B) The calculation of exchange rate gains or losses on individual transactions in foreign currencies.

C) The procedure required to identify a company’s functional currency.

D) The calculation of gains or losses from all transactions for the year.

E) A procedure to prepare a foreign subsidiary’s financial statements for consolidation.

Answer: E