Which of the Following Statements Is Correct

question 8

Multiple Choice

Which of the following statements is correct?

• A)If an organization is self-sustaining,non-monetary items recorded at cost must be translated using historical rates.
• B)If an organization is self-sustaining,non-monetary items recorded at cost must be translated using average rates.
• C)If an organization is self-sustaining,non-monetary items recorded at cost must be translated using closing rates.
• D)If an organization is considered an integrated foreign subsidiary non-monetary items recorded at cost must be translated using closing rates.

---

Definitions:

Consensual Unit

A social or familial group formed based on mutual agreement or consent, rather than through legal, blood, or traditional binds.

Economic Cooperation

A type of arrangement in which parties agree to work together towards common or mutual economic goals, often including trade agreements, shared investments, and collaborative projects.

Christianity

A monotheistic religion based on the life and teachings of Jesus Christ, emphasizing love, forgiveness, and redemption.

Islam

A monotheistic religion founded in the 7th century, based on the teachings of Prophet Muhammad and the holy book, the Quran.