Access the most recent annual report for a U.S.-based multinational company with which you are familiar to complete the requirements of this exercise.

Required:

a. Determine whether the company’s foreign operations have a predominant functional currency.

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b. If possible, determine the amount of remeasurement gain or loss, if any, reported in net income in each of the three most recent years.

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c. Determine the amount of translation adjustment, if any, reported in other comprehensive income in each of the three most recent years. Explain the sign (positive or negative) of the translation adjustment in each of the three most recent years.

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d. Determine whether the company hedges net investments in foreign operations. If so, determine the type(s) of hedging instrument(s) used.