Hylie, a U.S. corporation, owns 100% of Frosan, a French firm. Assume that the dollar is the functional currency, although the books are kept in euros.
Required:
What currency exchange rate would be used to remeasure Frosan's balance sheet into U.S. dollars? Choose from current, simple average, weighted average, or historical.

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The Answer of Hylie, a U.S. corporation, owns 100% of Frosan, a French firm. Assume that the dollar is the functional currency, although the books are kept in euros.
Required:
What currency exchange rate would be used to remeasure Frosan's balance sheet into U.S. dollars? Choose from current, simple average, weighted average, or historical.