Alpha Ltd Is an Australian Company, the Currency of Its $\quad$

question 22

Multiple Choice

Alpha Ltd is an Australian company, the currency of its principal economic environment is UK£ and its financial statements are presented in ¥ the functional currency of its parent entity.
When considering foreign currency transactions and the preparation of financial reports of entities that engaged in transactions denominated in foreign currencies, four currency classifications are adopted:
I $\quad$ the presentation currency
II $\quad$ the domestic currency
III $\quad$ the functional currency
IV $\quad$ foreign currencies
-For Alpha Ltd, it presentation currency is:

• A)A$
• B)¥
• C)UK£
• D)US$

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Definitions:

Goal Of Description

The primary purpose or intent behind describing a process, condition, concept, or object, often aimed at providing clarity, understanding, or instruction.

Scientific Method

A systematic, organized series of steps that helps in understanding phenomena, acquiring new knowledge, or correcting and integrating previous knowledge.

Third Force

A psychological perspective that focuses on humanistic, existential, and gestalt views of personality, emphasizing personal growth and self-actualization.

Humanism

A philosophical and ethical stance that emphasizes the value and agency of human beings, individually and collectively, often prioritizing human welfare and freedoms.