1. What is a subsidiary's functional currency? a. The parent's reporting currency b. The currency used by the parent to acquire the subsidiary c. The currency in which the entity primarily generates and expends cash d. Always the currency of the country in which the company has its headquarters 2. In comparing the current rate and temporal methods of translation, which of the following is true? a. The reported balance of accounts receivable is normally the same under both methods. b. The reported balance of inventory is normally the same under both methods. 08,031902440PM Final PDF to pri c. The reported balance of equipment is normally the same under both methods. d. The reported balance of depreciation expense is normally the same under both methods. 1. What is a subsidiary's functional currency? a. The parent's reporting currency b. The currency used by the parent to acquire the subsidiary c. The currency in which the entity primarily generates and expends cash d. Always the currency of the country in which the company has its headquarters 2. In comparing the current rate and temporal methods of translation, which of the following is true? a. The reported balance of accounts receivable is normally the same under both methods. b. The reported balance of inventory is normally the same under both methods. 08,031902440PM Final PDF to pri c. The reported balance of equipment is normally the same under both methods. d. The reported balance of depreciation expense is normally the same under both methods