The functional currency is defined as the currency of the country in which the foreign subsidiary is located.

Name: The functional currency is defined as the currency of the country in which the foreign subsidiary is located.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The functional currency is defined as the currency of the primary economic environment in which the entity operates, which is not necessarily the currency of the country in which the subsidiary is located.

The Functional Currency Is Defined as the Currency of the Country