Certain Balance Sheet Accounts of a Foreign Subsidiary of Parker

question 56

Multiple Choice

Certain balance sheet accounts of a foreign subsidiary of Parker Company at December 31, 2021, have been restated into U.S. dollars as follows: If the current rate used to restate these amounts is $0.95, what was the average historical rate used to arrive at the total amount for historical rates?

• A) $0.9000.
• B) $1.0000.
• C) $0.9500.
• D) $0.9474.
• E) $1.0556.