functional currency
Defined in 1 place of the United States Code.
For purposes of this subtitle, the term “functional currency” means—
(A) except as provided in subparagraph (B), the dollar, or
(B) in the case of a qualified business unit, the currency of the economic environment in which a significant part of such unit's activities are conducted and which is used by such unit in keeping its books and records.
Source
- 1994–present26 U.S.C. § 985Internal Revenue Code · Functional currency · for purposes of this subtitle