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Translation of a foreign entitys financial statements into the reporting currency of a domestic entity...

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Question

Accounting

Translation of a foreign entitys financial statements into the reporting currency of a domestic entity is typically done

a)

because the domestic entity has economic losses due to transactions denominated in the foreign entitys currency.

b)

to enable a parent company to include its foreign subsidiarys financial statements in its consolidation.

c)

to determine if the foreign entity is properly applying IFRS.

d)

to determine if the foreign entity is more profitable than the domestic entity.

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