AB Company in the United Kingdom is a subsidiary of ABC Company in the United States. The
majority of transactions done by AB Company are entered in GBP. At the end of the year, AB
Company restates all its ledgers or balances to report at the headquarters in the US. What is this
process called?
A.
Revaluation
B.
Translation
C.
Conversion
D.
Observation
E.
Alteration