An International Subsidiary Reports Its Accounts in Pounds Sterling

An international subsidiary reports its accounts in pounds sterling. In the consolidation process, its accounts are remeasured into euros and then translated into U.S. dollars. What is the most accurate observation?

A) The parent company is incorporated in the U.S.
B) The subsidiary's local currency is the euro.
C) The subsidiary conducts most of its business in euros.
D) The parent company does most of its business in pounds sterling.