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Question
According to the translation process in the United States, ________.
A) companies first translate their statements into dollars, and then recast their financial statements consistent with U.S. GAAP
B) companies recast their financial statements consistent with U.S. GAAP, and then translate them into U.S. dollars
C) companies only need to worry about the translation process because local operations take place in a local GAAP environment
D) companies translate foreign currency financial statements only if the dollar is weakening against the local currency
Answer
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