Insight, a company headquartered in Hong Kong, owns numerous foreign subsidiary companies. When Insight consolidates its subsidiaries, Insight should translate the subsidiary’s monetary assets into Hong Kong dollars at the

a. current exchange rate.

b. average exchange rate during the period Insight owned the British subsidiary.

c. historical exchange rate when Insight purchased the British company.

d. none of the above. There’s no need to translate the subsidiary’s assets into dollars.