Examlex
Which of these is an accounting entity?
Foreign Subsidiary
A company owned or controlled by another company, the parent company, that is based in a different country than the subsidiary.
Functional Currency
The functional currency is the main currency used by a business or economic entity, reflecting the primary economic environment in which it operates.
Opening Inventory
The value of the goods available for sale at the beginning of an accounting period.
Functional Currency
The currency of the primary economic environment in which an entity operates, usually determined by the currency that mainly influences sales prices for goods and services or the country whose competitive forces and regulations most affect the entity's performance.
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