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Accounting Quiz1

10 Questions  I  By Baybayev
Accounting Quiz1

  
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Question Excerpt

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1.  Which method of translating a foreign subsidiary's financial statements is correct?
A.
B.
C.
D.
E.
2.  A highly inflationary economy is defined as
A.
B.
C.
D.
E.
3.  A net liability balance sheet exposure exists and the foreign currency depreciates. Which of the following statements is true?
A.
B.
C.
D.
E.
4.  A net asset balance sheet exposure exists and the foreign currency appreciates. Which of the following statements is true?
A.
B.
C.
D.
E.
5.  What is a company's functional currency?
A.
B.
C.
D.
E.
6.  For a foreign subsidiary that uses the U.S. dollar as its functional currency, what method is required to ready the financial statements for consolidation?
A.
B.
C.
D.
E.
7.  A net liability balance sheet exposure exists and the foreign currency appreciates. Which of the following statements is true?
A.
B.
C.
D.
E.
8.  A net asset balance sheet exposure exists and the foreign currency depreciates. Which of the following statements is true?
A.
B.
C.
D.
E.
9.  In accounting, the term translation refers to
A.
B.
C.
D.
E.
10.  A historical exchange rate for common stock of a foreign subsidiary is best described as
A.
B.
C.
D.
E.
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