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Answer each of the following questions and cite appropriate justification for your answer

Accounting

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Answer each of the following questions and cite appropriate justification for your answer. (GAAP ASC Codification)

3.         Company A has a foreign subsidiary located in a country that historically    has had a highly inflationary economy. However, during the current year,       the economy of the country of the foreign subsidiary is no longer       considered highly inflationary. How does this change affect Company A’s           accounting and reporting related to the foreign subsidiary?