Transit Importing Company

question 23

Multiple Choice

Transit Importing Company.converts its foreign subsidiary financial statements using the translation process.The company's French subsidiary reported the following for 2014: revenues and expenses of 10,500,000 and 6,505,000 francs,respectively,earned or incurred evenly throughout the year,dividends of 500,000 francs were paid during the year.The following exchange rates are available:

Translated net income for 2014 is

• A)$910,860
• B)$838,950
• C)$805,860
• D)$733,950

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Definitions:

Standard Deviations

A statistic that measures the dispersion or spread of a set of data points relative to their mean.

Mean

The average of a set of numerical values, calculated by summing them up and dividing by the number of values.

Deviation

In statistics, it refers to the difference between the observed value and the mean of a dataset, indicating how much the data points diverge from the average.

Skewness

A measure of the asymmetry of the probability distribution of a real-valued random variable.