The local currency and the reporting currency are always the same.

Name: The local currency and the reporting currency are always the same.
Brand: Quizplus
Rating: 4.9 (38 reviews)

Question

Quizplus · Accepted Answer

The local currency refers to the currency used in the country where a company operates, while the reporting currency refers to the currency in which the company presents its financial statements. These two currencies may be the same, but they can also be different if the company operates in one country and reports its financial statements in another currency.

The Local Currency and the Reporting Currency Are Always the Same