Monty Enterprises,a Subsidiary of Kerry Company Based in Delaware,reported the Following

question 12

Multiple Choice

Monty Enterprises,a subsidiary of Kerry Company based in Delaware,reported the following information at the end of its first year of operations (all in British pounds) : assets--483,000;expenses--360,000;liabilities--105,000;capital stock--90,000,revenues--648,000.Relevant exchange rates are as follows: As a result of the translation process,what amount is recorded on the financial statements as the translation adjustment?

• A) $34,020 debit adjustment
• B) $34,020 credit adjustment
• C) $11,520 debit adjustment
• D) $11,520 credit adjustment

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Definitions:

Classical Conditioning

A learning process that occurs when two stimuli are repeatedly paired; a response originally elicited by the second stimulus is eventually elicited by the first stimulus alone.

Reciprocal Determinism

The idea that people choose the environments they enter and then change them.

Introverted Tendencies

Characteristics or behaviors of an individual that show a preference for inward-focused experiences and activities, often entailing less social interaction.

Stimulating Environments

Refers to settings or situations that provide a range of sensory and intellectual stimuli, potentially enhancing cognitive function and emotional well-being.