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Seattle,Inc

Question 47

Multiple Choice

Seattle,Inc.owns an 80 percent interest in a Portuguese subsidiary.For 20X8,Seattle reported income from operations of $2.0 million.The Portuguese company's income from operations,after foreign currency translation,was $1.1 million.The foreign currency translation adjustment was $120,000 (credit) .Consolidated net income and consolidated comprehensive income for the year are:
Seattle,Inc.owns an 80 percent interest in a Portuguese subsidiary.For 20X8,Seattle reported income from operations of $2.0 million.The Portuguese company's income from operations,after foreign currency translation,was $1.1 million.The foreign currency translation adjustment was $120,000 (credit) .Consolidated net income and consolidated comprehensive income for the year are: A) Option A B) Option B C) Option C D) Option D


A) Option A
B) Option B
C) Option C
D) Option D

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