U.S. sells goods to Japan and denominates USD
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A U.S. company regularly sells goods to companies in Japan and denominates the transactions in U.S. dollars. From the U.S. company's perspective, the yen is the:
Functional Reporting Local
Currency Currency Currency
A) Yes No No
B) No Yes Yes
C) No No No
D) Yes Yes Yes
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Solution Summary
The solution examines functional currency, reporting currency and local currency for a U.S. company regularly selling goods to companies in Japan and denominates the transactions in U.S. dollars.
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