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.

---

Definitions:

Mycenae

An ancient city located in the Peloponnese of Greece, known for its significant archaeological sites from the Mycenaean civilization.

Spring Fresco

Refers to a fresco painting from the Bronze Age, found in Akrotiri on the island of Thera (modern Santorini), depicting a vibrant spring landscape.

Akrotiri

A Minoan Bronze Age settlement on the Greek island of Santorini, preserved under volcanic ash and known for its advanced architecture and frescoes.

Landscape

Depictions of natural scenery in art, emphasizing the aesthetics of nature and often featuring mountains, trees, rivers, or forests.