A USFirm Has a Belgian Subsidiary That Uses the British Pound

question 6

Multiple Choice

A U.S.firm has a Belgian subsidiary that uses the British pound as its functional currency.According to GAAP,the U.S.dollar from Belgian unit's point of view will be

• A)its only foreign currency.
• B)its local currency.
• C)its current rate method currency.
• D)its reporting currency.

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