Which of the Following Is Not an Example of Foreign

question 76

Multiple Choice

Which of the following is not an example of foreign aid?

• A)U.S.discount stores purchasing toys from Chinese manufacturers
• B)The International Monetary Fund extending loans to countries that have trouble with their balance of payments
• C)The World Bank providing loans and grants to support health and education programs
• D)The U.S.government providing funds to build an electricity plant in Albania
• E)The Australian government providing funds to repair highways in Tonga

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Definitions:

Translating

The process of converting financial statements from one currency into another, typically for consolidation purposes.

Financial Statements

Formal records of the financial activities and position of a business, person, or other entity, providing an overview of a business or person's financial condition.

Functional Currency

The currency of the primary economic environment in which an entity operates, usually determining how financial statements are presented.

Presentation Currency

The currency in which a company's financial statements are reported, chosen by the company to suit its primary audience's needs.