A Foreign Currency Transaction Shall Be Recorded on Initial Recognition

question 31

Multiple Choice

A foreign currency transaction shall be recorded on initial recognition in the:

• A) presentation currency.
• B) local currency.
• C) foreign currency.
• D) functional currency.

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Definitions:

Independent

Not influenced by or contingent upon something else; autonomous or having the freedom to act separately.

Standard Deviations

A calculation that shows how broadly or tightly a set of values is distributed.

Independent

Not influenced or controlled by others in matters of opinion, conduct, or other actions; free from external control.

Standard Deviations

Refers to the distance of a value from the mean in a dataset, indicating the variability within the data.