The Financial Statements of a Foreign Subsidiary with an Australian

question 18

Multiple Choice

The financial statements of a foreign subsidiary with an Australian parent company must:

• A) remain in the foreign currency for the purposes of consolidating the financial statements of the Australian parent company.
• B) be translated into Australian dollars for the purposes of consolidating the financial statements of the Australian parent company.
• C) be translated into Australian dollars for the purposes of presenting the financial statements in the country of its foreign operations.
• D) None of these options are correct.