An Entity's May Change Its Functional Currency When There Is

question 35

True/False

An entity's may change its functional currency when there is a change in the underlying transactions,events and conditions.

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Definitions:

Intoxication

The state of being impaired or influenced by the consumption of alcohol or drugs.

Ratification

The act of officially approving or confirming an agreement or action, making it valid and binding.

Implied Ratification

The acceptance or approval of a previously unauthorized act by behaving in a manner that acknowledges the act as authorized.

Express Ratification

Formal approval or confirmation of an act or agreement, usually explicitly and often in writing, making it officially valid.