Which of the Following Statements Regarding Functional Currency Is FALSE

question 13

Multiple Choice

Which of the following statements regarding functional currency is FALSE?

• A)Functional currency is the currency in which the company conducts its primary business activity.
• B)Foreign currency exists when a company transacts in a currency other than its functional currency.
• C)The currency of the country in which an entity normally operates is its functional currency.
• D)Functional currency must be determined first before foreign currency transactions can be identified.

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Definitions:

World Hunger

The global issue of insufficient food supply and malnutrition affecting millions worldwide, especially in developing countries.

Environment

The sum of all external conditions affecting the life, development, and survival of an organism.

Vegetarianism

A dietary lifestyle that excludes meat, fish, and poultry, sometimes for health, environmental, or ethical reasons.

Compassion

A deep awareness of and sympathy for another's suffering, coupled with the desire to alleviate that suffering.