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Accounting Quiz1

10 Questions  I  By Baybayev
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Accounting Quizzes & Trivia

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