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The functional currency of a foreign operation is determined primarily by ? a) The parent company's currency b) The currency that mainly influences sales prices c) The reporting currency d) The local country's currency

The functional currency of a foreign operation is determined primarily by ? a) The parent company's currency b) The currency that mainly influences sales prices c) The reporting currency d) The local country's currency

International Financial Management
International Financial Management
14th Edition
ISBN:9780357130698
Author:Madura
Publisher:Madura
ChapterP3: Part 3: Exchange Rate Risk Management
Section: Chapter Questions
Problem 1Q
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The functional currency of a foreign operation is determined primarily by ? a) The parent company's currency b) The currency that mainly influences sales prices c) The reporting currency d) The local country's currency
Transcribed Image Text:The functional currency of a foreign operation is determined primarily by ? a) The parent company's currency b) The currency that mainly influences sales prices c) The reporting currency d) The local country's currency
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