Simon Company Has Two Foreign Subsidiaries

question 43

Multiple Choice

Simon Company has two foreign subsidiaries.One is located in France,the other in England.Simon has determined the U.S.dollar is the functional currency for the French subsidiary,while the British pound is the functional currency for the English subsidiary.Both subsidiaries maintain their books and records in their respective local currencies.What methods will Simon use to convert each of the subsidiary's financial statements into U.S.dollars?

• A)Option A
• B)Option B
• C)Option C
• D)Option D

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