Simon Company has two foreign subsidiaries. One is located in France, the other in England. Simon has determined the U.S. dollar is the functional currency for the French subsidiary, while the British pound is the functional currency for the English subsidiary. Both subsidiaries maintain their books and records in their respective local currencies. What methods will Simon use to convert each of the subsidiary's financial statements into U.S. dollars?  English Subsidiary'sFinancial StatementsFrench Subsidiary'sFinancial StatementsA)TranslationTranslationB)RemeasurementRemeasurementC)RemeasurementTranslationD)TranslationRemeasurement

A. Option A
B. Option B
C. Option C
D. Option D


Answer: D

Business

You might also like to view...

Which of the following is recorded under the asset side of a bank's balance sheet?

A. Transaction deposits B. Equity capital C. Borrowings D. Reserves

Business

Which of the following is a difference in the views of Keynesian and classical economists?

A. Keynesians believe that prices and wages adjust quickly, whereas the classicals believe they adjust slowly. B. Keynesians believe that policymakers have full knowledge about the state of an economy, whereas the classicals believe they don't. C. Keynesians believe that policymakers cannot offset shocks to an economy, whereas the classicals believe they can. D. Keynesians believe that most shocks to an economy are to long-run aggregate supply, whereas the classicals believe the shocks are to aggregate demand.

Business

Social media play a key role in earned media. Distinguish between earned media and paid media

What will be an ideal response?

Business

The carpenter came to install the new flooring in the Stephenson's kitchen two weeks ago. Once he had removed the old flooring, he announced he needed to go get a sander to smooth out the subflooring. He has not been back. A person who is an irate type when it comes to complaining would react to this by:

A. Taking no action whatsoever B. Assuming he had done something to alienate the carpenter C. Firing the first carpenter and hiring another one who is willing to complete the job D. Using the phone to check up on the status of the carpenter at most once a week E. Begging the carpenter to come back and finish the job

Business