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

question 11

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:
-Westmore reported sales of £1,500,000 during 2008.What amount (rounded) would have been included for this subsidiary in calculating consolidated sales?

• A)$2,380,952.
• B)$2,400,000.
• C)$2,429,150.
• D)$2,419,355.
• E)$2,425,876.

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Definitions:

Phospholipids

A class of lipids forming the major component of cell membranes, consisting of a phosphate group, a glycerol backbone, and two fatty acid tails.

Plasma Membrane

A membrane made of two layers of lipids encircles the cell, managing how substances move into and out of it.

Intracellular

Located or occurring within a cell or cells.

Extracellular

Located or occurring outside the cell, often referring to the environment or substances in the space surrounding cells.