Assume the Functional Currency of a Foreign Entity Is the U.S.dollar,but

question 42

Multiple Choice

Assume the functional currency of a foreign entity is the U.S.dollar,but the books are kept in euros.The objective of remeasurement of a foreign entity's accounts is to

• A)produce the same results as if the foreign entity's books were maintained in the currency of the largest customer.
• B)produce the same results as if the foreign entity's books were maintained solely in the local currency.
• C)produce the same results as if the foreign entity's books were maintained solely in the U.S.dollar.
• D)produce the results reflective of the foreign entity's economics in the local currency.

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