The Functional Currency of an Entity

question 23

Multiple Choice

The functional currency of an entity:

• A) never changes once determined.
• B) must be assessed and changed annually.
• C) can change if there is a change in underlying transactions, events and conditions which determine the functional currency.
• D) can change as a consequence of the foreign currency transactions that are undertaken by the parent entity.

---

Definitions:

Achievements

Accomplishments or successes achieved through effort, skill, or courage.

Negative Impressions

Unfavorable views or opinions formed about someone or something, often based on limited or bad experiences.

Shorthand Language

A method of rapid writing by using symbols or abbreviations for words and common phrases.

Formal Letter Format

A structured way of writing a letter for professional or official communication, adhering to specific guidelines.