Dilty Corp

question 71

Multiple Choice

Dilty Corp. owned a subsidiary in France. Dilty concluded that the subsidiary's functional currency was the U.S. dollar.
What must Dilty do to ready the subsidiary's financial statements for consolidation?

• A) first translate them, then remeasure them.
• B) first remeasure them, then translate them.
• C) state all of the subsidiary's accounts in U.S. dollars using the exchange rate in effect at the balance sheet date.
• D) translate them.
• E) remeasure them.