A USFirm Has a Belgian Subsidiary That Uses the British Pound

question 6

Multiple Choice

A U.S.firm has a Belgian subsidiary that uses the British pound as its functional currency.According to GAAP,the U.S.dollar from Belgian unit's point of view will be

• A)its only foreign currency.
• B)its local currency.
• C)its current rate method currency.
• D)its reporting currency.

---

Definitions:

Industrial Workers Of The World

An international labor union founded in 1905, known for its radical approach to workers' rights and socialism.

United Mine Workers

A labor union that represents coal miners in the United States and Canada, focusing on improving working conditions and wages.

Eugene Debs

An American socialist, political activist, trade unionist, one of the founding members of the Industrial Workers of the World, and five times the candidate of the Socialist Party of America for President of the United States.

Pullman Strike

A nationwide railroad strike in the United States in 1894, which severely disrupted rail traffic in the Midwest and led to intervention by federal troops.