CAF-6 · Chapter 4 · Question 9 of 15
Presentation currency is defined as:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) The currency in which the financial statements are presented.
Explanation
Presentation currency is simply the currency in which an entity chooses to present its financial statements.
More IAS 21 Foreign Currency Transactions MCQs
- Q11When translating into a presentation currency, income and expenses are generally translated at:
- Q12A foreign exchange gain on a non-monetary item (like a revalued building) where the gain itself is recognized in OCI, should have its…
- Q13Which item is NOT a monetary item?
- Q14The currency that mainly influences labor, material, and other costs is considered a:
- Q15An entity can have: