Generally Speaking, Translation Methods by Country Define the Translation Process

question 20

Multiple Choice

Generally speaking, translation methods by country define the translation process as a function of what two factors?

• A) size; location
• B) a firm's functional currency; location
• C) location; foreign subsidiary independence
• D) foreign subsidiary independence; a firm's functional currency

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Definitions:

Fiscal Year

A one-year period that companies and governments use for accounting purposes and preparation of financial statements, which may or may not align with the calendar year.

Calendar Year

A one-year period that begins on January 1 and ends on December 31, used as a financial and administrative period for many purposes.

Accrued Expense

Expenses that have been incurred but not yet paid or recorded in the financial statements.

Adjusting Entry

An entry made in the accounting records at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.