According to FASB ASC 830, Foreign Currency Matters, Which of the Following

question 57

Multiple Choice

According to FASB ASC 830, Foreign Currency Matters, which of the following conditions would indicate that a foreign subsidiary's functional currency is the parent company's currency?

• A) Active local sales market
• B) Sales price not affected by changes in exchange rate in the short-run
• C) High volume of intercompany transactions
• D) All of the above are indicators that the functional currency is the parent company's currency.

---

Definitions:

Prochaska and DiClemente

Scholars known for their Transtheoretical Model of Change, which outlines stages people go through in altering behavior.

Motivation Techniques

Strategies or methods used to encourage individuals to achieve their goals or complete tasks by enhancing their drive or willingness.

Crisis Intervention

A type of emergency assistance or therapy provided to individuals facing immediate psychological distress or life challenges.

Action Steps

Specific measures or strategies taken to achieve a particular goal or to address an issue.