If the Restatement Method for a Foreign Subsidiary Involves Remeasuring

question 39

Multiple Choice

If the restatement method for a foreign subsidiary involves remeasuring from the local currency into the functional currency,then translating from functional currency to U.S.dollars,the functional currency of the subsidiary is:
I.U.S.dollar.
II.Local currency unit.
III.A third country's currency.

• A) I
• B) III
• C) II
• D) Either I or II

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Definitions:

Aptitude

A natural ability or talent for learning or skill acquisition.

Heredity

The transfer of genetic characteristics from parents to offspring through their genes.

Identical Twins

Twins who originated from the same fertilized egg, sharing all of their genes and typically having very similar appearances.

Fraternal Twins

Twins who develop from separate eggs and therefore are genetically distinct, although born at the same time.