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.

---

Definitions:

Neurons

Nervous system cells dedicated to conveying information by means of electrical and chemical signals.

Waking Metabolism

The rate at which the body burns calories while awake and active, contributing to overall energy expenditure.

Circadian Rhythm

The innate, internal mechanism that controls the cycle of sleep and wakefulness, recurring approximately every 24 hours.

Fall Asleep

The transition from wakefulness to sleep, characterized by the loss of consciousness and decreased bodily movement.