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In the budgeting process,

a. the local currency should be used to set the budget and monitor performance

b. the local currency budget should be translated into dollars at the projected exchange rate

c. actual results should be translated into dollars at the same rate at which the budget was set

d. trnslated budgets allow management to look at the same numbers that shareholders use

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M942196

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