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CIMAPRA19-F02-1 Exam - Topic 1 Question 28 Discussion

Which THREE of the following would determine the functional currency of an overseas subsidiary in accordance with IAS 21 The Effects of Changes in Foreign Exchange Rates?
A) The currency which principally influences selling prices for goods and services. and B) The currency in which operating receipts are retained. and C) The currency that mainly influences labour, material and other costs.
D) The currency which the parent company uses to present its financial statements.
E) The currency in which all non-current assets are purchased and recognised.
F) The currency which principally influences the choice of functional currency of the parent.

CIMAPRA19-F02-1 Exam - Topic 1 Question 28 Discussion

Actual exam question for CIMA's CIMAPRA19-F02-1 exam
Question #: 28
Topic #: 1
[All CIMAPRA19-F02-1 Questions]

Which THREE of the following would determine the functional currency of an overseas subsidiary in accordance with IAS 21 The Effects of Changes in Foreign Exchange Rates?

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Suggested Answer: A, B, C

by Jacqueline at May 09, 2022, 02:31 AM

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Una
7 months ago
B is definitely a must for determining functional currency!
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Becky
7 months ago
I thought E was important too, but I guess not!
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Romana
8 months ago
Wait, D isn't a factor? That seems odd.
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Dorthy
8 months ago
Totally agree with A and C!
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Jacquline
8 months ago
A, B, and C are the key factors!
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Kenneth
8 months ago
Ah, this is a good one. I remember learning about Salesforce Shield in class. I'll use that knowledge to guide my approach and eliminate the incorrect options.
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Denna
8 months ago
The ability to change the survey designs and update them twice a year is definitely important. I'd focus on those requirements first.
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Mitsue
8 months ago
To approach this, I'd first identify the key PRINCE2 processes and principles at play, like 'Controlling a Stage'. Then I'd consider the appropriate level of reporting and control based on the team manager's experience and the project's needs.
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Bernardo
8 months ago
I think I came across a similar question in my practice tests. If I recall correctly, you can set up a Blue Prism environment without it, but it's not ideal.
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