CIMA Exam CIMAPRA19-F02-1 Topic 1 Question 28 Discussion

Actual exam question for CIMA's CIMAPRA19-F02-1 exam

Question #: 28
Topic #: 1

Which THREE of the following would determine the functional currency of an overseas subsidiary in accordance with IAS 21 The Effects of Changes in Foreign Exchange Rates?

AThe currency which principally influences selling prices for goods and services.

BThe currency in which operating receipts are retained.

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

DThe currency which the parent company uses to present its financial statements.

EThe currency in which all non-current assets are purchased and recognised.

FThe currency which principally influences the choice of functional currency of the parent.

Show Suggested Answer

Suggested Answer: A, B, C

by Jacqueline at May 09, 2022, 02:31 AM

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