The Assets Listed Below of a Foreign Subsidiary Have Been

question 54

Multiple Choice

The assets listed below of a foreign subsidiary have been converted to U.S.dollars at both current and historical exchange rates.Assuming that the local currency of the foreign subsidiary is the functional currency,what total amount should appear for these assets on the U.S.company's consolidated balance sheet?

• A)$636,000
• B)$648,000
• C)$708,000
• D)$960,000

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Definitions:

Independent Variable

A variable that is manipulated in an experiment to see if it affects the outcome or dependent variable.

Dependent Variable

In scientific research, the variable that is tested and measured to determine if it is affected by changes in the independent variable.

Self-critical

A tendency to evaluate oneself harshly, focusing on one’s flaws and shortcomings.

European

Pertaining to a person from, or associated with, the continent of Europe.