Determining the functional currency

Reference no: EM13259457

Selvey inc is a completely owned subsidiary of parsfield incorporated a us firm. The country where selvey operates is deemed to have a highly inflationary economy under FASB statement no. 52. Therefore,the functional currency is :

a. its reporting currency
b.its current rate method currency
c. the us dollar
d. its local currency

Reference no: EM13259457

Questions Cloud

Shape of the distribution of sample means : what would be the mean, variance, standard deviation and shape of the distribution of sample means? Give reasons for your answers.

Income from operations increase problem : A transfer price of $13 per unit is established, and 50,000 units of material are transferred with no reduction in Division 6'scurrent sales. How much would Division 3's income from operations increase?

Calculate shunt resistance required to increase the range : if a 1mA movement has an internal resistance of 43 ohms, calculate the shunt resistance required to increase its range to 50mA and also 300mA.

Identify the three levels of subscribers to the nasdaq : In behavioral finance studies have revealed 4 basic biases that affect rational decision making. Identify and explain those biases.

Determining the functional currency : Selvey inc is a completely owned subsidiary of parsfield incorporated a us firm. The country where selvey operates is deemed to have a highly inflationary economy under FASB statement no. 52. Therefore,the functional currency is :

Determine the probability that your jelly bean is yellow : Determine the probability that your jelly bean is either black or white. Probability jelly bean is black or white = ?

Compute the book value per share before the stock dividend : On October 1, Kosko declares anddistributes a 10% stock dividend when the market value of the stockis $15 per share. Compute the book value per share (1) before the stock dividend and (2) after the stockdividend.

What are the revenues : Income from operations for Division B is $165,300, total service department charges are $399,200 and operating expenses are $2,626,000. What are the revenues for Division B?

Determining the financing source : A fire station that the city of plenty constructed many years ago is sold and is accounted for as an other financing source. Where should entries be made?

User Account

All Pages