1. The Articles of Partnership signed by all partners would supersede standards and rules established by the UPA. True or False. Explain
2. According to U.S. GAAP, when the local currency is the functional currency, which method is usually required for translating a foreign subsidiary's financial statements into the parent's reporting currency?
   1. The temporal method.
   2. The current rate method.
   3. The current/noncurrent method.
   4. The monetary/nonmonetary method
3. Consolidation Entry A eliminates the subsidiaries Net Asset accounts on the consolidation worksheet.
   1. True
   2. False