REFERENCE: Ref.10_09 Certain Balance Sheet Accounts of a Foreign Subsidiary of Parker

question 21

Multiple Choice

REFERENCE: Ref.10_09
Certain balance sheet accounts of a foreign subsidiary of Parker Company at December 31,2008,have been restated into U.S.dollars as follows:
SHAPE \* MERGEFORMAT

-If the current rate used to restate these balances is $.95,what was the historical rate used to restate the same balances?

• A)$)90.
• B)$1.00.
• C)$)95.
• D)$)9474.
• E)$1.0556.

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Definitions:

Immanent Justice

The belief, often held by children, that moral behavior is always rewarded and immoral behavior is always punished.

Immediate

Pertaining to something occurring or done without delay.

Heteronomous

Subject to external rules or laws rather than being independent in one's ethics or morality.

Autonomous

The capacity to make an informed, uncoerced decision independently.