DeGaulle Enterprises, a subsidiary of Clinton Company based in New York, reported the following information at the end of its first year of operations (all in French francs): assets--4,790,000; expenses--6,500,000; liabilities--2,950,000; capital stock--1,200,000, revenues--7,140,000 . Relevant exchange rates are as follows: On date subsidiary stock was purchased ................ $0.220 Average
rate for the year ............................. 0.218 At year end ........................................... 0.216 As a result of the translation process, what amount is recorded on the financial statements as the translation adjustment?
a. $1,287 debit adjustment
b. $1,287 credit adjustment
c. $6,080 debit adjustment
d. $6,080 credit adjustment
C
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The balance in the owner's drawing account is transferred to the ____________________ account
Fill in the blank(s) with correct word
A limited liability company with more than one member is taxed as a partnership:
A) Only if no more than four of six listed attributes are present in the limited liability company. B) In all circumstances. C) Only if at least four of six listed attributes are present in the limited liability company. D) If the limited liability company has not elected to be taxed as a corporation. E) Only if all six listed attributes are present.
In German trials, judges:
a. play a much more active role than U.S. judges b. are not allowed to speak c. are not allowed to review evidence d. may only question the plaintiff e. may only question the defendant
Groups that are excessively concerned with maintaining a positive team spirit are likely to experience
A. maximizing. B. brainstorming. C. individual dominance. D. groupthink. E. goal displacement.