Accounting Quiz1

10 Questions  I  By Baybayev

  
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Question Excerpt

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