All of the following factors would be used to define a foreign entity's functional currency, except
A. high volume of intercompany transactions.
B. expenses for foreign entity primarily driven by local factors.
C. financing for foreign entity denominated in local currency.
D. foreign entity's status as a local tax haven for transfer pricing purposes.
Answer:D
All of the following factors would be used to define a foreign entity's functional currency, except
A. high volume of intercompany transactions. B. expenses for foreign entity primarily driven by local factors. C. financing for foreign entity denominated in local currency. D. foreign entity's status as a local tax haven for transfer pricing purposes.