REFERENCE: Ref.10_03 Dilty Corp.owned a Subsidiary in France.Dilty Concluded That the Subsidiary's

question 55

Multiple Choice

REFERENCE: Ref.10_03
Dilty Corp.owned a subsidiary in France.Dilty concluded that the subsidiary's functional currency was the U.S.dollar.
-What must Dilty do to ready the subsidiary's financial statements for consolidation?

• A)first translate them,then remeasure them.
• B)first remeasure them,then translate them.
• C)state all of the subsidiary's accounts in U.S.dollars using the exchange rate in effect at the balance sheet date.
• D)translate them.
• E)remeasure them.

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