Identifying the Current Rate Method for Currency Translation

In financial reporting for multinational corporations, companies often deal with multiple currencies. One key aspect of this process is the translation of foreign currency financial statements into the reporting currency. There are two common methods for this currency translation: the current rate method and the temporal method. Understanding these methods is crucial for accurately interpreting financial results.

Which of the following options correctly identifies the translation method where all assets and liabilities are translated at the current exchange rate, while revenues and expenses are translated at the exchange rates prevailing at the time of the transaction?