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  3. b). explain the concepts of local currency, functi

B). Explain the concepts of local currency, functional currency and presentation currency with example. ...

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Accounting

B). Explain the concepts of local currency, functional currency and presentation currency with example.

C). How is the profit or loss from translating foreign operations' financial statements from local currency to functional currency treated?

D) How are the profit and loss from translating foreign operations' financial statements from functional currency to presentation currency treated?

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