Depreciation expense recorded by a subsidiary
Under the temporal method of consolidating foreign currency financial statements, what exchange rate should be used for translating the depreciation expense recorded by a subsidiary?
A) average rate
B) current rate
C) historical rate
D) forward rate
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Ricardian equivalence, Please provide detailed calculation, analysis and explanation
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Essco Ltd, a foreign subsidiary of Peako Corp., has written down its inventory to current market value under a "lower of cost or market" rule. When consolidating Essco's balance sheet into Peako's balance sheet, what exchange rate should be used f
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Evaluate Pacific's internal control system and indicate which principles of internal control appear to have been ignored.
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