Which THREE of the following would determine the functional currency of an overseas subsidiary in accordance with IAS 21 The Effects of Changes in Foreign Exchange Rates?
A.
The currency which principally influences selling prices for goods and services.
B.
The currency in which operating receipts are retained.
C.
The currency that mainly influences labour, material and other costs.
D.
The currency which the parent company uses to present its financial statements.
E.
The currency in which all non-current assets are purchased and recognised.
F.
The currency which principally influences the choice of functional currency of the parent.
Chosen Answer:
This is a voting comment (?). You can switch to a simple comment. It is better to Upvote an existing comment if you don't have anything to add.
Submit