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The Account Receivable is remeasured into the functional currency and remeasurement obviates translation.
B. The Account Receivable is remeasured into the functional currency and remeasurement obviates translation. A. Because all accounts of the subsidiary are translated into US dollars at the current rate, the Account Receivable is not adjusted on the subsidiarys books before translation. Which one of the following statements is true? A. Because all accounts of the subsidiary are translated into US dollars at the current rate, the Account Receivable is not adjusted on the subsidiarys books before translation. B. The Account Receivable is remeasured into the functional currency and remeasurement obviates translation. C. The Account Receivable is first adjusted to reflect the current exchange rates in euros and then translated at the current rate into dollars. D. The Account Receivable is adjusted to euros at the current exchange rate and any resulting gain or loss is included as a translation adjustment in the stockholders equity section of the subsidiarys separate balance sheet.
