Oscar, Ltd

question 1

Multiple Choice

Oscar, Ltd. is a British subsidiary of a U.S. company. Oscar's functional currency is the pound sterling (£) . The following exchange rates were in effect during 2021: Oscar reported sales of £1,200,000 during 2021. What amount (rounded) would have been included for this subsidiary in calculating consolidated sales?

• A) $1,896,000.
• B) $1,956,000.
• C) $1,872,000.
• D) $769,231.
• E) $750,000.