Indicators that the local currency is also the functional currency include all of the following except the parent typically provides the financing or provides a guarantee.
A functional currency is one that is utilized in the main economic setting in which a company conducts business. This is the setting in which an entity generates and spends money most frequently. When defining the functional currency of an entity, the following key considerations should be taken into account:
The principal currency influencing retail prices (usually the currency in which prices are denominated and settled).
The money of the nation whose laws and competition have the biggest impact on retail pricing.
The principal currency affecting labor expenses and other costs of goods sold (usually the currency in which prices are denominated and settled).
The currency in which an entity keeps its operating receipts and the currency in which debt and equity instruments are issued are less important deciding factors.
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It’s depends which artical your reading since you have to re read the book to answer.
Answer:
Create a list of the things that you found to be different than what you expected during your visit and plan some strategies for adjusting to these differences.
Explanation:
This will help in planning and adjusting better and be careful.
Consider other option like 'focus your efforts on closing out all of your remaining projects and commitments related to your current position to get ready for your overseas assignment' is not related with any cultural adjustment. Which according to the exercise is the most effective aproach to solve the problem.
Answer:
$2700 supplies in hand
$3600 Supplies expense
Explanation:
As you can see in question data Sheldon has already counted the supplies in hand so, we only have to calculate supplies expense by doing some minor workings
WORKINGS
Supplies Expense = Opening + purchases - payment made
Supplies Expense = $1600 + $4700 - $2500
Supplies Expense = $3600
