Birds That Crash into the Water and Scoop Up Fish

question 18

Multiple Choice

Birds that crash into the water and scoop up fish in the gular pouch are called:

• A) stilts.
• B) tubenoses.
• C) pelicans.
• D) albatross.
• E) skimmers.

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Definitions:

Translation Rate

The exchange rate used in translating the financial statements of a foreign entity into the functional currency for reporting purposes.

Functional Currency

The currency of the primary economic environment in which an entity operates, typically used in preparing financial statements.

Translation Rate

The rate used to convert financial statements of a foreign operation into the presentation currency of the reporting entity.

Foreign Currency

Currency that is used in a country other than the one where a company or individual is based.