Dilty Corp

question 75

Multiple Choice

Dilty Corp. owned a subsidiary in France. Dilty concluded that the subsidiary's functional currency was the U.S. dollar.What must Dilty do to ready the subsidiary's financial statements for consolidation?

• A) First translate, then remeasure them.
• B) First remeasure, then translate them.
• C) State all of the subsidiary's accounts in U.S. dollars using the exchange rate in effect at the balance sheet date.
• D) Translate them.
• E) Remeasure them.

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Definitions:

Framework For Ethics

A set of principles designed to guide the decision-making process by establishing standards of right and wrong.

Ethical Issue

A dilemma or situation that requires a person or organization to choose between alternatives that must be evaluated as right (ethical) or wrong (unethical).

Zero Tolerance Policy

A policy that enforces strict consequences for specific offenses, without exceptions.

Technology

The application of scientific knowledge for practical purposes, especially in industry.