Home › CA Final › financialreporting › Ind AS 21 — Foreign Currency Transactions: Functional Currency Determination, Scope, Definitions › Under Ind AS 21, 'PRESENTATION CURRENCY' is:
Under Ind AS 21, 'PRESENTATION CURRENCY' is:
AUSD by default
BThe local currency of the country of incorporation
CThe currency in which the financial statements ARE PRESENTED — may be different from the functional currency
DThe functional currency of the parent
Answer & Solution
Correct answer: C. The currency in which the financial statements ARE PRESENTED — may be different from the functional currency
Presentation currency is a presentation choice. An entity may present FS in any currency, but the underlying functional currency drives recognition and measurement.
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