_____ the U

Multiple Choice

_____ The U.S. dollar is the functional currency of a Canadian subsidiary. During 2006, the Canadian dollar weakened. A favorable reporting result occurred as a result of this 2006 exchange rate change. What was the subsidiary's average financial position during 2006?

A) A net monetary asset position.
B) A net monetary liability position.
C) A net investment (net asset) position.
D) A net liability position.