Under IAS 21, which of the following is not a factor in determining functional currency?
A. It is the currency that influences sales prices for goods and services.
B. It is the currency that mainly influences labor, material and other costs of providing goods and services.
C. It is the currency least likely to experience hyperinflation.
D. It is the currency in which funds from financing activities are generated.
Answer:C
Under IAS 21, which of the following is not a factor in determining functional currency?
A. It is the currency that influences sales prices for goods and services. B. It is the currency that mainly influences labor, material and other costs of providing goods and services. C. It is the currency least likely to experience hyperinflation. D. It is the currency in which funds from financing activities are generated.