Which of the following will result in an exchange gain being reported in profit for an Integrated foreign operation (I.e., the functional currency of the foreign operation is the same as the parent)? Multiple Choice Translating notes recevable when the Canadian dollar has depreciated relative to the foreign currency Translating land when the Canadian dollar has appreciated relative to the foreign currency Translating land when the Canadian dollar has depreciated relative to the foreign currency. Senior SR A foreign entity is a subsidiary of a Canadian parent company and has always used the presentation currency translation (PCT) method to translate its foreign financial statements on behalf of its parent company. Which one of the following statements Is Incorrect? Multiple Choice Translation adjustments are shown in shareholders' equity as Increases or decreases in other comprehensive Income. Change 2 fetes scene subsidiary country and 4 try are not expect The Canadian dollar will be the functional currency of this company. Translation adjustments are not shown on the Income statement. A Canadian company owns a self-sustaining subsidiary (.e., the functional currency of the foreign operation is different than the parent) in Spain, where the currency is the euro (). On January 1, Year 5, the subsidiary had 500,000 in cash and no other assets or liabilities. On January 1, the subsidiary used 100,000 to purchase equipment. On April 1, the subsidiary used cash to purchase merchandise Inventory costing 80,000. This merchandise was sold on May 29 for 120,000 in cash. On November 29, the subsidiary paid cash dividends in the amount of 15,000, and on December 31 it recorded depreciation on the equipment for the year of 20,000. The appropriate exchange rates were as follows: January 1, Year 5 April 1, Year 5 May 29, Year 5 November 29, Year 5 December 31, Year 5 Average for Year 5 1 = $1.48 1 = $1.51 1 = $1.53 1 = $1.54 1 = $1.56 1 = $1.52 What is the amount of the Year 5 translation adjustment to be included in accumulated foreign exchange adjustments In the shareholders' equity section of the translated statement of financial position? Multiple Choice $40.100 gain. Postering $40.500 gain. $40,100 loss. In the comparison of the functional currency translation (FCT) method and the presentation currency translation (PCT) method, which of the following statements is true? Multiple Choice The amount reported for depreciation expense is normally the same under both methods. PA TODAS The amount reported for Inventory is normally the same under both methods. The amount reported for sales is normally the same under both methods