A US parent company owns a French subsidiary. Most of the transactions in the French subsidiary are conducted using the USD, including sales for employees, inventory transactions, etc. The presentation currency is the USD: This firm must use the Current Rate Method to translate its financial statements. Select one: O True False A US parent company owns a French subsidiary. All transactions in the French subsidiary are conducted using the Euro, including sales for employees, inventory transactions, etc. The presentation currency is the USD. This firm must report the foreign currency translation account in other comprehensive income. Select one: O True False