The Following Information Pertains to Questions

question 32

Multiple Choice

The following information pertains to questions
ABC Inc has a single wholly-owned American subsidiary called US1 based in Los Angeles,California which was acquired January 1,2014.US1 submitted its financial statements for 2014 to ABC.Selected exchange rates in effect throughout 2014 are shown below: US1 Financial Results for 2014 were as follows: Balance Sheet For questions 17 through 22,inclusively,assume that US1 is considered to be a self-sustaining subsidiary.
-Which of the following rates would be used to translate the company's Cash?

• A)$1CDN=$0.815 U.S.
• B)$1CDN=$0.8175 U.S.
• C)$1CDN=$0.8250 U.S.
• D)$1CDN=$0.83 U.S.

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Definitions:

Civil Procedure

The body of law that sets out the rules and standards courts follow when adjudicating civil lawsuits as opposed to criminal proceedings.

Admitted

In a legal context, it refers to evidence or facts that are accepted by the court, or a person being formally accepted into an organization or institution.

Directed Verdict

A legal ruling made by a judge in favor of one party without allowing the case to be decided by a jury because the evidence overwhelmingly supports one side.

Defendant

The individual, group, or entity against whom a lawsuit is filed or an accusation is made in a court of law.