Komota Ltd

question 38

Multiple Choice

Komota Ltd., a public Canadian corporation, has a subsidiary in Australia. It has been determined that the functional currency of the foreign operations is the Australian dollar. Which of the following statements is TRUE?

• A)Komota's financial statements will have to be translated into the Australian dollar.
• B)Komota's transactions with the subsidiary will need to be re-measured.
• C)Komota will not be required to consolidate.
• D)The presentation currency is the Canadian dollar.

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Definitions:

Gene Expressed

The process by which the information encoded in a gene is used to direct the assembly of a specific protein molecule or to produce RNA molecules.

Cleavage

In animal development, stage during which repeated mitotic divisions produce a blastula.

Blastula

An early stage in embryonic development that consists of a spherical layer of cells (blastomeres) surrounding a fluid-filled cavity.

Oviduct

Duct between an ovary and the uterus.