_____ Parco's foreign subsidiary had the following average balances for its individual assets and liabilities during 2006:
Using the foreign currency unit of measure approach, what was the relevant average financial position during 2006?

A) Net asset position of 1,000,000 LCUs.
B) Net monetary asset position of 1,000,000 LCUs.
C) Net monetary liability position of 300,000 LCUs.
D) Net monetary liability position of 2,300,000 LCUs.
E) None of the above.

Question

_____ Parco's foreign subsidiary had the following average balances for its individual assets and liabilities during 2006:
Using the foreign currency unit of measure approach, what was the relevant average financial position during 2006?
 
A) Net asset position of 1,000,000 LCUs. 
B) Net monetary asset position of 1,000,000 LCUs. 
C) Net monetary liability position of 300,000 LCUs. 
D) Net monetary liability position of 2,300,000 LCUs. 
E) None of the above.

Quizplus · Accepted Answer

The Answer of _____ Parco's foreign subsidiary had the following average balances for its individual assets and liabilities during 2006:
Using the foreign currency unit of measure approach, what was the relevant average financial position during 2006?
 
A) Net asset position of 1,000,000 LCUs. 
B) Net monetary asset position of 1,000,000 LCUs. 
C) Net monetary liability position of 300,000 LCUs. 
D) Net monetary liability position of 2,300,000 LCUs. 
E) None of the above.

_____ Parco's Foreign Subsidiary Had the Following Average Balances for Its