Multiple Choice
The process of converting foreign subsidiary financial statements into the home currency is known as -------
A) Transmission
B) Translation
C) Consolidation
D) Reconstruction
Correct Answer:

Verified
Correct Answer:
Verified
Q4: loose tools are shown in the B/S
Q5: The original cost at which an asset
Q6: Depreciation is<br>A)An accounting necessity only<br>B)Tax necessity only<br>C)Tax
Q7: Capital account is a<br>A)Fictitious account<br>B)Personal account<br>C)Liability account<br>D)Nominal
Q8: According to which concept, proprietor of a
Q10: Divisible profit do not include<br>A)Insurance fund<br>B)Reserve fund,<br>C)profit
Q11: Revenue is generally recognized as being earned
Q12: The policy of anticipate no profit and
Q13: Unclaimed dividend is shown in the B/S
Q14: Preliminary expenses is an example of<br>A)Fixed asset<br>B)Current