Which of the Following Rates Would Be Used to Translate

question 13

Multiple Choice

Which of the following rates would be used to translate the company's Assets and Liabilities?

• A) US$1 = CDN$0.815
• B) US$1 = CDN$0.8175
• C) US$1 = CDN$0.825
• D)US$1 = CDN$0.83

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Definitions:

Basic Assumption

Basic Assumption is a foundational principle that underlies or is assumed to be the basis of reasoning, actions, decisions, or theories.

Dollar

The basic monetary unit used in the United States and some other countries.

Economic Activities

Actions that involve the production, distribution, and consumption of goods and services in an economy.

Revenues

Income earned by a company from its business activities, typically from the sale of goods and services to customers.