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    Australian Financial Accounting Study Set 1
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    Exam 35: Accounting for Foreign Currency Transactions
  5. Question
    A Foreign Currency Transaction Shall Be Recorded on Initial Recognition
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A Foreign Currency Transaction Shall Be Recorded on Initial Recognition

Question 51

Question 51

Multiple Choice

A foreign currency transaction shall be recorded on initial recognition in the:


A) Presentation currency.
B) Local currency.
C) Foreign currency.
D) Functional currency.
E) None of the given answers.

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