Plane & Lathe Is a Securities Broker and Investment Bank

True/False

Plane & Lathe is a securities broker and investment bank located in Manchester. Plane & Lathe specializes in trading on the London Stock Exchange. Recently, due to economic changes, Plane & Lathe has started trading predominantly on the New York Stock Exchange. Their functional currency changed, as a result, from the British pound to the U.S. dollar. This change is considered a change in accounting policy.