21/

Department L & M of MNC enter into the following internal sale, Department L produces product N, Department M purchases a quantity of N Product, 1,000 were units were transferred, the maximum limit of transfer pricing computed as $25 and Internal Cost Savings $ 8, the minimum limit of transfer pricing is:

a.

$167.

b.

$200.

c.

$17.

d.

$33.

22/

Assuming that the functional currency of a foreign subsidiary is not the local currency, which of the following accounts would be remeasured at the historical rate?

a.

Land

b.

Long-term notes payable

c.

Sales Revenue

d.

Accounts Payable