When Translating the Financial Statements of a Foreign Operation to Presentation

Multiple Choice

When translating the financial statements of a foreign operation to presentation currency,AASB 121 requires any gain or loss on translation of the accounts to be:

A) recognised as a revenue or expense in the statement of comprehensive income.
B) transferred to a reserve in the equity section of the statement of financial position.
C) deferred and amortised over a period not greater than 20 years.
D) written off against the non-monetary assets of the foreign operation with any balance remaining recognised as a revenue or expense in the period.