Certain Balance Sheet Accounts of a Foreign Subsidiary of Parker

question 64

Multiple Choice

Certain balance sheet accounts of a foreign subsidiary of Parker Company at December 31, 2011, have been restated into U.S. dollars as follows:

Assuming the functional currency of the subsidiary is the U.S. dollar, what total should be included in Parker's consolidated balance sheet at December 31, 2011, for the above items?

• A) $407,500.
• B) $418,000.
• C) $396,000.
• D) $403,500.
• E) $398,500.

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Definitions:

Patterned Affiliations

Established, repeatable associations or relationships between individuals or groups that follow a recognizable sequence or arrangement.

Organizational Structure

Organizational Structure defines how activities such as task allocation, coordination, and supervision are directed toward the achievement of organizational aims, outlining the hierarchy and the flow of information within an organization.

Level of Commitment

Describes the degree to which an individual, group, or organization is dedicated to a cause, idea, or goal.

Socially Sanctioned

Behaviors or practices that are acceptable and approved within a society or group.