1. If a U.S. company has a French subsidiary that uses the euro as its recording and functional currency, then the subsidiary's statements must be translated but not remeasured in order for the U.S parent to consolidate its financial statements. True or False?

2. If a company's debits equal their credits due to a variety of rates used to remeasure the foreign currency, then a remeasurement gain or loss is always included in the period's other comprehensive income. True or False?