Complete the Following Statement by Choosing the Best Response

Multiple Choice

Complete the following statement by choosing the best response:
If the functional currency of a foreign subsidiary is the local currency of the country in which the foreign subsidiary operates, then

A) the foreign subsidiary's financial statements are translated into U.S. dollars.
B) the foreign subsidiary's financial statements must be remeasured into U.S. dollars.
C) only the foreign subsidiary's assets and liabilities must be remeasured into U.S. dollars
D) only retained earnings must be remeasured into U.S. dollars.