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Determine functional currency for a consolidated subsidiary

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Problem 1: A company is investigating the possible purchase of two companies dedicated to ecotourism located abroad, which would be included in the consolidated financial statements as subsidiaries, this being wholly owned by the company. One company is located in Nicaragua and the other in Costa Rica. What factors should be considered when determining the functional currency for a consolidated subsidiary. What economic indicators should be considered both individually and collectively.

Reference no: EM132839656

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