2. If a foreign subsidiary of a U.S. multinational enterprise has a functional currency other than its

Question:

2. If a foreign subsidiary of a U.S. multinational enterprise has a functional currency other than its local currency and the U.S. dollar, the subsidiary’s financial statements must be:

a. Remeasured to the U.S. dollar only.

b. Translated to the U.S. dollar only.

c. Remeasured to the functional currency and translated to the U.S. dollar.

d. Translated to the functional currency and remeasured to the U.S. dollar.

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