Paskin Corporation's wholly$-$owned Canadian subsidiary has a Canadian dollar functional currency. In translating the

subsidiary's account balances into U$.$S$.$ dollars for reporting purposes, which one of the following accounts would be

translated at historical exchange rates?

Select one:

a$.$ Accounts Receivable

b$.$ Notes Payable

c$.$ Plant Assets

d$.$ Capital Stock

A foreign entity is a subsidiary of a U$.$S$.$ parent company and has always used the current rate method to translate its foreign

financial statements on behalf of its parent company. Which one of the following statements is false?

Select one:

a$.$ The U$.$S$.$ dollar is the functional currency of this company.

b$.$ Changes in exchange rates between the subsidiary's country and the parent's country are not expected to affect the

foreign entity's cash flows.

c$.$ Translation adjustments are shown in stockholders' equity as increases or decreases in other comprehensive income.

d$.$ Translation adjustments are not shown on the income statement.