The accounts listed below are for the foreign subsidiary of an Australian company. Indicate the exchange rate that would be used to translate the foreign currency balances of these accounts into Australian dollars assuming:

1. The Australian dollar is the functional currency.
2. The foreign currency is the functional currency; and

In the table provided below, use the following letters to indicate the appropriate exchange rate:

H historical exchange rate

C current exchange rate at the end of the current period

A average exchange rate for the current period

Answer for Question 2 Part B:

Account	A$ is the functional currency	The foreign currency is the functional currency
Cost of sales
General Reserve
Patents and Trademarks
Goodwill
Deferred Tax Asset
Motor Vehicles (MV)
Inventory
Accumulated Deprec - MV
Rent Expense
Depreciation expense