90. CSO: 2A4a LOS: 2A4a.2 The functional currency of an entity is defined as the currency a. of the entity’s parent company. b. of the primary country in which the entity is physically located. c. in which the books of record are maintained for all entity operations. d. of the primary economic environment in which the entity operates.

2A4A.2 THE FUNCTIONAL CURRENCY OF AN ENTITY IS DEFINED AS THE CURRENC...

CMA EXAM SUPPORT PACKAGE 2

90.

CSO: 2A4a

LOS: 2A4a.2

The functional currency of an entity is defined as the currency

of the entity’s parent company.

of the primary country in which the entity is physically located.

in which the books of record are maintained for all entity operations.

of the primary economic environment in which the entity operates.