Finnish Company Converts Its Foreign Subsidiary Financial Statements Using the Translation

question 43

Multiple Choice

Finnish Company converts its foreign subsidiary financial statements using the translation process.The company's subsidiary in Denmark reported the following for 2014: revenues and expenses of 95,000 and 63,000 kroner,respectively,earned or incurred evenly throughout the year,dividends of 43,000 kroner were paid during the year.The following exchange rates are available: Translated net income for 2014 is

• A) $86,400.
• B) $96,000.
• C) $(29,700).
• D) $(28,500).

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Definitions:

Preferred Course of Action

A specific strategy or plan that is favored over others for achieving a desired outcome or solving a particular problem.

Alternative Courses of Action

Various paths or strategies that can be taken to achieve a goal or resolve a problem.

Ethics Double-check

A process or step taken to ensure that actions, decisions, or policies adhere to ethical standards and principles.

Bounded Rationality

The concept that when individuals make decisions, their rationality is limited by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make a decision.