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What is the accounting treatment if the foreign entity

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Reference no: EM13512544

1. a. What does the term functional currency mean?

b. What is the accounting treatment if the foreign entity’s currency is the functional currency?

c. What is the accounting treatment if the U.S. currency is the functional currency?

2.a. What are the six guidelines that SFAS No. 52 provides for determining the functional currency?

b. What were the findings of the FASB research report by Evan and Doupnik regarding these six criteria?

Reference no: EM13512544

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