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:

Genetic Drift

A mechanism of evolution that refers to random changes in the frequency of alleles (variants of a gene) in a population over time.

Empathy

The ability to understand and share the feelings of another person from their perspective, essentially putting oneself in their shoes.

Altruism

A selfless concern for the well-being of others, often manifesting in acts of kindness without expectations of reward.

Personal Trust

Personal trust is the confidence individuals have in the reliability and integrity of another person, typically established through interpersonal relationships.