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CIMAPRA19-F01-1 Exam - Topic 5 Question 18 Discussion

According to IAS 21 The Effects of Changes in Foreign Exchange Rates, an entity should determine its functional currency.Which of the following is NOT a factor that should be considered by an entity when determining its functional currency?
C) The currency used for published financial reports.
A) The currency that mainly influences selling prices of the entity's goods and services.
B) The currency that mainly influences labour, material and other costs.
D) The currency of the country whose competitive forces determine prices of goods and services.

CIMAPRA19-F01-1 Exam - Topic 5 Question 18 Discussion

Actual exam question for CIMA's CIMAPRA19-F01-1 exam
Question #: 18
Topic #: 5
[All CIMAPRA19-F01-1 Questions]

According to IAS 21 The Effects of Changes in Foreign Exchange Rates, an entity should determine its functional currency.

Which of the following is NOT a factor that should be considered by an entity when determining its functional currency?

Show Suggested Answer Hide Answer
Suggested Answer: C

by Mariann at May 03, 2022, 12:40 PM

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Trevor
10 months ago
I thought C was important for reporting purposes!
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Esteban
10 months ago
A and B are key, but C? Nah.
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Yolande
11 months ago
Wait, are we sure about that? Seems a bit off.
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Alyssa
11 months ago
Totally agree, C doesn't fit the criteria!
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Marget
11 months ago
C is definitely not a factor for functional currency.
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Loise
11 months ago
Ah, I remember learning about this in class. The interface has to be assigned to a security zone, which defines the security policies and protections that will be applied to traffic on that interface. I'm pretty confident that's the right answer.
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Belen
11 months ago
I think I remember that having the CEO as chairman could indicate a conflict of interest, but I'm not sure if that's the only issue.
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Donette
11 months ago
I'm a little confused by this question. I know there are various data privacy and security regulations, but I'm not totally sure which one specifically deals with employee health information. I'll need to do a quick refresh on the different standards before answering.
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