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Accounting Quiz1

10 Questions  I  By Baybayev
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Accounting Quizzes & Trivia

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