A U.S. parent has a subsidiary in Singapore. If the parent's reporting currency is the U.S....
A U.S. parent has a subsidiary in Singapore. If the parent's reporting currency is the U.S. dollar and the subsidiary's functional currency is the Singapore dollar, conversion of the subsidiary's accounts to U.S. dollars involves
| A. |
Both remeasurement and translation |
|
| B. |
No conversion to another currency |
|
| C. |
Only translation |
|
| D. |
Only remeasurement |
Homework Answers
Option C - only translation
The parent company use the converted financial to make the part of there consolidated financial statement & to see the performance of the company and to compare with others.
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A U.S. parent has a subsidiary in Singapore. If the parent's
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