1.In the budgeting process:

Multiple Choice

a. actual results should be translated into dollars at the same rate at which the budget was set.

b. the local currency should be used to set the budget and monitor performance.

c. translated budgets allow management to look at the same numbers that shareholders use.

d. the local currency budget should be translated into dollars at the projected exchange rate.

2.Which of the following is not a problem that public accounting firms face when they do business overseas

Multiple Choice

a. understanding the different audit statement formats.

b. tax discrimination.

c. restrictions on the scope of practice.

d. restrictions on the use of the firm's name.