REFERENCE: Ref.10_01 Westmore,Ltd.is a British Subsidiary of a U.S.company.Westmore's Functional Currency Is

question 79

Multiple Choice

REFERENCE: Ref.10_01
Westmore,Ltd.is a British subsidiary of a U.S.company.Westmore's functional currency is the pound sterling.The following exchange rates were in effect during 2008:
-On December 31,Westmore had accounts receivable of £280,000.What amount (rounded) would have been included for this subsidiary in calculating consolidated accounts receivable?

• A)$444,444.
• B)$451,613.
• C)$142,600.
• D)$176,400.
• E)$452,830.

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