Which of the Following Statements Accurately Describes the Manner in Which

Multiple Choice

Which of the following statements accurately describes the manner in which transactions must be translated under IAS 21?

A) All transactions must be translated into the functional currency of the reporting entity.
B) All transactions must be converted into the local currency of the reporting entity.
C) All transactions are to be reported into the currency of the jurisdiction where the majority of shareholders reside.
D) All transactions may be reported into the currency of the country where the corporation does the majority of its business.