Q1: Can all 3 types of currencies be different, or there only 2 different types of currence (i.e. USD and YEN)? I'm thinking that, often times, the local and reporting are different from each other. However, the functional is identical to either the local or reporting during the translational and temporal methods.
Q2: (I have a feeling that this question pivots from Q1) Is there a situation where there is no functional currency when dealing with international operations?