Global Trading Company

question 23

Multiple Choice

Global Trading Company.converts its foreign subsidiary financial statements using the translation process.The company's Swiss subsidiary reported the following for 2014: revenues and expenses of 13,220,000 and 6,672,000 Swiss francs,respectively,earned or incurred evenly throughout the year,dividends of 2,000,000 Swiss francs were paid during the year.The following exchange rates are available: Translated net income for 2014 is

• A) $891,408.
• B) $809,544.
• C) $1,283,408.
• D) $1,165,544.

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Definitions:

Jean Piaget

A Swiss developmental psychologist best known for his theory of cognitive development that describes how children develop intellectual abilities from infancy to adolescence.

Sensorimotor Stage

The first of the four stages of cognitive development in Piaget's theory, occurring from birth to about 2 years of age, where infants learn about the world through their movements and sensory experiences.

Object Permanence

The understanding that objects continue to exist even when they cannot be seen, heard, or otherwise sensed.

Abusive Parenting

A harmful pattern of behavior by parents towards their children, which can be physical, emotional, or sexual in nature.