In order to provide information that is useful in decision making and capital allocation, the International Financial Reporting Standards (IFRS) requires all companies to use a common currency.

Question

Quizplus · Accepted Answer

IFRS does not require all companies to use a common currency; instead, it allows entities to present their financial statements in any currency (typically, the functional currency of the entity), provided that the chosen currency is most relevant to the needs of the users of the financial statements.

In Order to Provide Information That Is Useful in Decision