Sum is a 100%-owned subsidiary of a U.S. corporation. The country in which Sum is located has been determined to have a highly inflationary economy. Given this information, the functional currency of Sum is:
(a) Its local currency
(b) The U.S. dollar
(c) Its recording currency
(d) None of the above

Answer rating: 100% (QA)

Correct Option b The US dollar A functional currency is ... View the full answer