Ask Question
BusinessBusiness
15 December, 08:43

1. The currency in which an international subsidiary's parent presents its consolidated financial statements is its A. Currency of the country where the parent is incorporated. B. Local currency. C. Functional currency. D. Reporting currency.

+3
Answers (1)
  1. 15 December, 11:36
    0
    The correct answer is letter "C": Functional currency.

    Explanation:

    Functional currency is the monetary medium of exchange a company usually generates and expends money with. Functional currency represents the primary currency a firm uses for its operations which is likely to be the official currency of the region where it handles business but that does not always happen.

    For book-keeping purposes, a subsidiary's parent uses the functional currency of their operational functional environment.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “1. The currency in which an international subsidiary's parent presents its consolidated financial statements is its A. Currency of the ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Getting paid for each basket of apples you gather represents which schedule of reinforcement
Answers (1)
What adds to be 14 but also multiplies to be 48
Answers (1)
Gourmet pretzels bakes soft pretzels on an assembly line. it currently bakes 800 pretzels each eight-hour shift. if the production is increased to 1,200 pretzels each shift, then productivity will have increased by
Answers (1)
An economy's output, in essence, is also equal to its income because a. Producers sell all of the goods that they produce to consumers. b. It is required by law that this be so. c.
Answers (1)
What is consumer sovereignty? a. it is the right of consumers to lodge complaints against fraud and misconduct b. it is the control excercised by consumer's preferences on the production of goods c.
Answers (2)
New Questions in Business
In the context of foreign direct investment, a joint venture involves the merger of companies.
Answers (1)
Classify the following changes in each of the accounts as either an outflow or an inflow of cash. During the year (a) marketable securities increased, (b) land and buildings decreased, (c) accounts payable increased, (d) vehicles decreased, (e)
Answers (1)
In 2013, teller company sold 3,000 units at $400 each. variable expenses were $280 per unit, and fixed expenses were $160,000. what was teller's 2013 net income?
Answers (1)
A project that provides annual cash flows of $24,000 for 9 years costs $110,000 today. Under the IRR decision rule, is this a good project if the required return is 8 percent?
Answers (1)
Which of the following groups has the responsibility for identifying and deciding the appropriate accounting treatment for recording or disclosing contingent liabilities? A) Auditors B) Legal counsel C) Management D) Management and the auditors
Answers (1)
Home » Business » 1. The currency in which an international subsidiary's parent presents its consolidated financial statements is its A. Currency of the country where the parent is incorporated. B. Local currency. C. Functional currency. D. Reporting currency.
Sign Up Forgot Password?