Thanks to Generous International Donors, the Billions of Dollars of Aid

question 48

True/False

Thanks to generous international donors, the billions of dollars of aid pledged to Haiti after the January 2010 earthquake reached the people in need within a few weeks of the disaster.

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Definitions:

Translation Rate

The exchange rate used to convert the financial statements of a foreign subsidiary to the reporting currency of the parent company.

Functional Currency

The primary currency of the primary economic environment in which an entity operates, used in preparing its financial statements.

Dividends

Distributions by a company to its shareholders, consisting of a share of the company's profits.

Historical Rates

The exchange rates from past periods used for translating transactions in foreign currencies or financial statements of foreign operations.