CPA- FAR: Under US GAAP, in preparing the consolidated financial statements for a US parent company with a foreign subsidiary, the foreign subsidiary's functional currency is the currency...

Question

Under US GAAP, in preparing the consolidated financial statements for a US parent company with a foreign subsidiary, the foreign subsidiary's functional currency is the currency...

LandiniLizard · Accepted Answer

...of the environment in which the subsidiary primarily generates and expends cash.

CPA- FAR

Under US GAAP, in preparing the consolidated financial statements for a US parent company with a foreign subsidiary, the foreign subsidiary's functional currency is the currency...

...of the environment in which the subsidiary primarily generates and expends cash.

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