Assume the U.S. dollar has been steadily weakening with respect to the euro. Your client,...
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Accounting
Assume the U.S. dollar has been steadily weakening with respect to the euro. Your client, a U.S. company with a subsidiary in Germany, wants to know the effect of the weakening dollar on its consolidated financial statements. The subsidiarys functional currency is the euro. Which statement below is false?
Sales revenue will increase.
Translated net income will increase.
Translated assets will be lower.
Translated liabilities will be higher.
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