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While preparing end-of-year financial statements, a parent company translates its financial statements for a foreign...

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Question

Accounting

While preparing end-of-year financial statements, a parent company translates its financial statements for a foreign subsidiary. If the foreign currency has depreciated over the past year and the company has a net asset balance sheet position, which of the following statements is most accurate?

Question 1 options:

A. It will record a negative translation adjustment.

B. It will record no translation adjustment.

C. It will record no transaction gain or loss.

D. It will record a positive translation adjustment.

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