alleryStart learning →In Ind AS 21, which item is a foreign currency?
AAny currency used by its customers
BCurrency other than the functional currency
CCurrency other than the Indian rupee
DAny currency outside the G20 group
Answer & Solution
Correct answer: B. Currency other than the functional currency
The test is relative to the entity's own functional currency, so for a company whose functional currency is the dollar, the rupee is a foreign currency.
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