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Which of the Following Statements About a Presentation Currency Is

Question 31

Multiple Choice

Which of the following statements about a presentation currency is FALSE?


A) The functional currency must be the same as the presentation currency.
B) When a group is involved, one presentation currency must be selected for presentation of the entire group.
C) Entities may choose to present their financial statements in any currency based on management's monitoring of the performance and financial position of entities within such a group.
D) When the financial statements of foreign operations are included in the group's financial statements by consolidation, or the equity method, they are translated for presentation purposes into a single currency referred to as the presentation currency.

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