A historical exchange rate for common stock of a foreign subsidiary is best described as
A) The rate at date of the acquisition business combination.
B) The rate when the common stock was originally issued for the acquisition transaction.
C) The average rate from date of acquisition to the date of the balance sheet.
D) The rate from the prior year's balances.
E) The January 1 exchange rate.

Question

Quizplus · Accepted Answer

The historical exchange rate for common stock is the rate at which the stock was originally issued, typically at the time of the acquisition transaction.

A Historical Exchange Rate for Common Stock of a Foreign