When a Foreign Entity Has the Foreign Currency as Its

question 54

Multiple Choice

When a foreign entity has the foreign currency as its functional currency,it uses which exchange rate to translate revenues and expenses in the income statement?

• A) the average exchange rate during the period
• B) the end of the period exchange rate
• C) the historical exchange rate
• D) the exchange rate on the date the asset or liability was obtained

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Definitions:

Treating

The act of providing medical care or attention to someone or something.

Boy Or Girl

Typically refers to the biological sex of a person, determined by their physical characteristics at birth.

Psychoanalytic Theory

A theory of personality development and psychological functioning that emphasizes unconscious processes and childhood experiences.

Sexual Attraction

The feeling of being drawn toward another individual in a sexual way.