Certain Balance Sheet Accounts of a Foreign Subsidiary of Parker

question 85

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:

Operations

Basic actions that can be performed on data, including mathematical and logical operations.

Programmer-defined Data Type

A custom data type created by the programmer to represent complex data structures uniquely suited to a particular software application's requirements.

ADT

ADT stands for Abstract Data Type, a model for data structures that defines the behavior from the point of view of a user, including values and operations, without specifying the implementation.

Class

In object-oriented programming, a template for creating objects, providing initial values for state (member variables) and implementations of behavior (member functions or methods).