For a USMultinational Corporation,consolidating the Financial Statements of Foreign Subsidiaries Requires Two

Multiple Choice

For a U.S.multinational corporation,consolidating the financial statements of foreign subsidiaries requires two steps. First,the foreign subsidiary's statements must be restated according to U.S.GAAP. The next step is to:

A) convert the account balances into U.S.dollars.
B) determine the exchange rate gain or loss.
C) calculate the translation adjustment.
D) restate the income using international accounting standards.