Question: Discuss FASB Statement No. 52 and within your discussion, explain what is the functional currency and discuss the indicators listed for SFAS 52 that are

Discuss FASB Statement No. 52 and within your discussion, explain what is the functional currency and discuss the indicators listed for SFAS 52 that are to be used in determining an entity's functional currency. In your opinion, does Statement No. 52 lead to smaller fluctuations in operating income and much smaller fluctuations in net income in response to changes in exchange rate. Explain why or why not.Thoroughly explain your thoughts regarding why or why not

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