If the Restatement Method for a Foreign Subsidiary Involves Remeasuring

question 39

Multiple Choice

If the restatement method for a foreign subsidiary involves remeasuring from the local currency into the functional currency,then translating from functional currency to U.S.dollars,the functional currency of the subsidiary is:
I.U.S.dollar.
II.Local currency unit.
III.A third country's currency.

• A) I
• B) III
• C) II
• D) Either I or II

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Definitions:

Majority Opinion

The judicial opinion agreed to by more than half of the members of a court, setting out the decision of the court.

Dissenting Opinions

Written opinions by judges who disagree with the majority decision in a court case.

Concurring Opinions

Judicial opinions that agree with the overall conclusion of the majority in a court ruling but may differ on reasoning or legal principles.

Binding Legal Principle

A legal rule or doctrine that must be followed by lower courts, or as part of a contract, must be adhered to by the parties involved.