Question: DETERMINE HOW A COUNTRY DECIDES/FINALISES ITS FUNCTIONAL CURRENCY ON THE BASIS OF FOLLOWING FACTORS: the location of primary sales markets, sources of materials and labor,

DETERMINE HOW A COUNTRY DECIDES/FINALISES ITS FUNCTIONAL CURRENCY ON THE BASIS OF FOLLOWING FACTORS:

  • the location of primary sales markets,
  • sources of materials and labor,
  • the source of financing, and
  • the amount of intercompany transactions should be evaluated in identifying an entity's functional currency.

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