A USCompany's Foreign Subsidiary Had the Following Amounts in Stickles (§)

question 60

Multiple Choice

A U.S.company's foreign subsidiary had the following amounts in stickles (§) , the functional currency, in 2018: The average exchange rate during 2018 was §1 = $.96.The beginning inventory was acquired when the exchange rate was §1 = $1.20.The ending inventory was acquired when the exchange rate was §1 = $.90.The exchange rate at December 31, 2018 was §1 = $.84.At what amount should the foreign subsidiary's cost of goods sold have been reflected in the 2018 U.S.dollar income statement?

• A) $11,253,600.
• B) $11,577,600.
• C) $11,520,000.
• D) $11,613,600.
• E) $11,523,600.

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Definitions:

Collectivistic Attribution

The tendency to attribute individuals' behaviors and success to their collective groups, emphasizing group goals over individual achievements.

Situational Attribution

Refers to attributing an individual's behavior to external or environmental factors.

Undependable

Not reliable or trustworthy; likely to fail or disappoint.

Fundamental Attribution Error

The tendency to overemphasize personal characteristics and underestimate situational factors when explaining others' behaviors.