Which of the following statements is true about the Euro?
A) It is the currency used by all countries in the European Union.
B) It is pegged to the U.S. dollar.
C) It is the currency required to be used in financial reporting under international accounting standards.
D) None of the statements above is true.

Question

Quizplus · Accepted Answer

A) Not all EU countries use the Euro; some have retained their own currencies. B) The Euro is not pegged to the U.S. dollar; it operates as a free-floating currency. C) International accounting standards do not require financial reporting in Euros; entities can report in various currencies.

Which of the Following Statements Is True About the Euro