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If the restatement method for a foreign subsidiary involves remeasuring from the recording currency into the functional currency, then translating from functional currency to U.S. dollars, the functional currency of the subsidiary is: I. the U.S. dollar. II. the recording currency unit. III. a third country's currency.

Respuesta :

A third country's currency is (B) III.

What is a foreign subsidiary?

  • A foreign subsidiary is a firm that operates outside of its home country and is a subsidiary of a larger corporation with headquarters in another nation, often known as a parent company or a holding company.

What is functional currency?

  • The principal currency used by a firm or unit of a business is referred to as functional currency.
  • It is the primary monetary unit of account in the economic environment in which an economic entity operates.

Therefore, a third country's currency is (B) III.

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Correct question:

If the restatement method for a foreign subsidiary involves remeasuring from the local currency into the functional currency, then translating from functional currency to U.S.dollars, the functional currency of the subsidiary is I. U.S. dollar. II. Local currency unit.III.

A third country's currency.

A. I

B. III

C. II

D.Either I or I

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