CIMA Exam CIMAPRA19-F01-1 Topic 5 Question 18 Discussion

Actual exam question for CIMA's CIMAPRA19-F01-1 exam

Question #: 18
Topic #: 5

According to IAS 21 The Effects of Changes in Foreign Exchange Rates, an entity should determine its functional currency.

Which of the following is NOT a factor that should be considered by an entity when determining its functional currency?

AThe currency that mainly influences selling prices of the entity's goods and services.

BThe currency that mainly influences labour, material and other costs.

CThe currency used for published financial reports.

DThe currency of the country whose competitive forces determine prices of goods and services.

Show Suggested Answer

Suggested Answer: C

by Mariann at May 03, 2022, 12:40 PM

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