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Determine a foreign entity functional currency

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Reference no: EM132616321

Problem 1. Which of the following is an additional question to be asked in determining whether a foreign entity's functional currency is the same as that of the reporting entity?

Option a. Are the foreign operation's activities carried out as an extension of the reporting entity, rather than being carried out with a significant degree of autonomy?

Option b. Do the cash flows from the foreign operation's activities directly affect the reporting entity's cash flows?

Option c. All of the above

Option d. Are the transactions with the reporting entity a high or low proportion of the foreign operation's activities?

Reference no: EM132616321

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