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For the year-end consolidated financial statements which

Question - Parisian Co. is a French company located in Paris. Yankee Corp., located in New York City, acquires Parisian Co. Parisian has the Euro as its local currency and the Swiss Franc as its functional currency. Yankee has the U.S. dollar as its local currency and the U.S. dollar as its functional currency. For the year-end consolidated financial statements which currency will it be prepared in and why?

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Accounting Basics: For the year-end consolidated financial statements which

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