Question
Koala Ltd is a company registered in Australia. It controls a subsidiary company residing in India. The subsidiary operates within India and sells its goods
Koala Ltd is a company registered in Australia. It controls a subsidiary company residing in India. The subsidiary operates within India and sells its goods and purchases its raw materials in India. It is estimated that 80% of Koala's sales are generated by its subsidiary based in India.The remaining balance of sales is generated by their operations based in Australia.Seventy percent of the shareholders of Koala Ltd are based in Australia.
Required
- Determine the functional currency of Koala Ltd. Justify your decision.
- Determine the presentation currency of Koala Ltd. Justify your decision.
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Accounting Information Systems
Authors: Robert Hurt
2nd Edition
78111056, 978-0078111051
