In Order for the Financial Statements of a Foreign Operation

question 11

Multiple Choice

In order for the financial statements of a foreign operation to be included in the consolidated financial statements of the parent it is necessary to translate the foreign operation's financial statements into:

• A) the presentation currency of the reporting entity;
• B) the functional currency of the foreign operation;
• C) the local currency of the foreign operation;
• D) the domestic currency of the foreign operation;

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Definitions:

Surgery

A branch of medicine that involves the manual and instrumental techniques to treat diseases, injuries, or deformities by incision or manipulation.

Respiratory Alkalosis

A condition marked by a decrease in carbon dioxide levels in the blood due to excessive breathing, often caused by anxiety or respiratory disorders.

Hyperventilating

Rapid or deep breathing that exceeds the body's need for oxygen, often due to anxiety or panic.

Tingling

A sensation of prickling, tingling, or numbness in a body part, often indicating nerve damage or disease.