When incorporating, it is important to consider whether or not the company will conduct business internationally.

1.Summarize the impact of foreign exchange rates on the company’s financial statements. What risks do foreign exchange rates pose? Provide academically supported example(s) in your response.

2.What are the two methods used to translate financial statements and how does the functional currency play a role in determining which method is used? Provide academic support in your response.

3.Compose a hypothetical example to demonstrate the translation process using the two methods. Ensure all information is entered accurately.

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