Which of the Following Statements About a Presentation Currency Is

question 43

Multiple Choice

Which of the following statements about a presentation currency is FALSE?

• A)The functional currency must be the same as the presentation currency.
• B)When a group is involved, one presentation currency must be selected for presentation of the entire group.
• C)Entities may choose to present their financial statements in any currency based on management's monitoring of the performance and financial position of entities within such a group.
• D)When the financial statements of foreign operations are included in the group's financial statements by consolidation, or the equity method, they are translated for presentation purposes into a single currency referred to as the presentation currency.

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Definitions:

Adaptive Ways

Strategies or mechanisms that individuals use to adjust to new conditions or environments in a positive manner.

Activity Theory

Theory of aging that holds that to age successfully a person must remain as active as possible.

Disengagement Theory

A theory suggesting that aging involves an inevitable process of withdrawal from social relationships and roles, leading to increased introspection and self-focus.

Compensation Theory

A hypothesis suggesting that individuals will excel in one area to balance out deficits in another area.