Cho Co, a Public Canadian Corporation, Has a Subsidiary in South

Multiple Choice

Cho Co., a public Canadian corporation, has a subsidiary in South Africa. It has been determined that the functional currency of the foreign operations is the South African rand. Which of the following statements is true?

A) Cho Co.'s financial statements will have to be translated into South African rand.
B) The presentation currency is the Canadian dollar.
C) Cho's transactions with the subsidiary will need to be re-measured.
D) Cho will not be required to consolidate.