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:

Stephen Ilardi

A psychologist known for his contributions to the treatment of depression, including the development of the Therapeutic Lifestyle Change program.

Double-blind Technique

A research methodology where neither the participants nor the experimenters know who is receiving a particular treatment, minimizing biases.

Drug Therapies

The treatment of disease or symptoms with pharmaceutical drugs as opposed to surgery or other therapies.

Drug Therapy

The treatment of disease or condition through the administration of pharmaceutical drugs, as opposed to surgery, physical therapy, etc.