[SOLVED] : Advanced Financial Accounting
Im studying for my Accounting class and dont understand how to answer this. Can you help me study?
Q1. Distinguish between an upstream sale of inventory and a downstream sale. Why is it important to know whether a sale is upstream or downstream?
Q2. What factors are used to determine a reporting entitys functional currency? Provide at least one example for which a companys local currency may not be its functional currency.
Eequired (The Answer should be 400-500 words)