. Examine the five following cases and determine if the functional currency of a U.S. parent s foreign unit is the foreign currency or the U.S. Dollar (Hint: Review Chapter 8 PowerPoint notes on slides #29-30 and Chapter 8 in Textbook on Page 551.) Scenario Functional Currency is the foreign currency or the U.S. Dollar? Receivables and payables denominated in foreign currency are not usually remitted to parent companv Sales prices are influenced by worldwide competitive conditions and responsive on a short-term basis to exchange rate changes Foreign unit obtains materials primarily from its own count The unit's financing is taken care of through ongoing fund transfers by the There is a low volume of intercompany transactions and little operational interrelations between the U.S. parent and toreign unit