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You are a U.S. parent and you have a subsidiary in Italy. The subsidiary's functional currency is the U.S. dollar and it maintains its accounts
You are a U.S. parent and you have a subsidiary in Italy. The subsidiary's functional currency is the U.S. dollar and it maintains its accounts in euros. When you consolidate the subsidiary, you will: Select one: O A. Translate the subsidiary's trial balance into U.S. dollars and then do the consolidation eliminating entries B. Put the subsidiary's trial balance, in euros, on the working paper and add the euro balances to the parent's U.S. dollar balances O C. Translate the subsidiary's trial balance into euros, then remeasure it into U.S. dollars, and then do the consolidation eliminating entries O D. Remeasure the subsidiary's trial balance into U.S. dollars and then do the consolidation eliminating entries
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