If JetNew, a Canadian company, operates a subsidiary in India, the financial statements of that subsidiary must be translated into Canadian dollars prior to consolidation.

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According to Canadian accounting standards, the financial statements of a foreign subsidiary must be translated into the parent company's reporting currency (Canadian dollars, in this case) prior to consolidation. This ensures that all financial information is reported in a consistent currency, allowing for accurate comparison and analysis.

If JetNew, a Canadian Company, Operates a Subsidiary in India