Park Co'S Wholly-Owned Subsidiary,Schnell Corp

question 37

Multiple Choice

Park Co.'s wholly-owned subsidiary,Schnell Corp. ,maintains its accounting records in German marks.Because all of Schnell's branch offices are in Switzerland,its functional currency is the Swiss franc.Remeasurement of Schnell's 20X1 financial statements resulted in a $7,600 gain,and translation of its financial statements resulted in an $8,100 gain.What amount should Park report as a foreign exchange gain in its income statement for the year ended December 31,20X1?

• A)$15,700
• B)$0
• C)$8,100
• D)$7,600

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Definitions:

Behavioral Segmentation

The process of dividing a market into groups based on consumer behaviors, such as purchasing habits or usage rates.

Demographic Segmentation

The division of a market into segments based on demographic factors such as age, gender, income, education, and family size.

Geographic Segmentation

The division of a market into different geographical units such as countries, states, regions, or cities, allowing for targeted marketing strategies based on location-specific preferences or needs.

Microblog

A platform for short, concise posts, allowing users to share quick updates and information, such as Twitter.