Dilty Corp

question 56

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.

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