_____ Parco Has a Foreign Subsidiary for Which the Average

Multiple Choice

_____ Parco has a foreign subsidiary for which the average balances of its individual assets and liabilities during 2006 were as follows:
From the U.S. dollar unit of measure approach, what was the relevant average financial position during 2006?

A) Net asset position of 1,000,000 LCUs.
B) Net monetary asset position of 1,000,000 LCUs.
C) Net monetary liability position of 300,000 LCUs.
D) Net monetary liability position of 2,300,000 LCUs.
E) None of the above.