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Translation of financial statements Assume that your company owns a subsidiary operating...

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Accounting

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Translation of financial statements Assume that your company owns a subsidiary operating in France. The subsidiary conducts most of its business activities in the European Economic Union and maintains its books in the Euro as its functional currency. The subsidiary's financial statements (in ) for the most recent year follow in part a. below: The relevant exchange rates ($:1) are as follows: gs, balance sheet, and statement of cash flows into $US

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