Which of the Following Statements Is True of Non-Local Currency

question 23

Multiple Choice

Which of the following statements is true of non-local currency balances in the foreign currency financial statements of foreign operations?

• A) These are not reported in the consolidated financial statements.
• B) Any gain is shown in the balance sheet of the company as an asset.
• C) Any loss is reflected in the measurement of consolidated net income.
• D) No gain or loss is reported in the financial statements.

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Definitions:

Stand Out

To be prominently better or noticeably different from others, typically in a positive way, making something or someone more noticeable, appealing, or remarkable.

Competition

Competition refers to a situation where individuals or groups are striving against each other to achieve a goal or obtain a benefit that is not shared.

Audience-centered Approach

A strategy in communication that tailors the message specifically to the interests, needs, and preferences of the intended audience.

Corporation's Needs

The requirements or demands of a company necessary for its operation, growth, or survival.