Multiple Choice
Lennon Ltd has two foreign operations based in Japan.The following information was extracted from the foreign operation's accounts for the period ended 30 June 2015: 
Exchange rate information is:
The translation from Japanese Yen to Australian dollars resulted to the following balances (rounded to the nearest ¥000) :
Which of the following translation processes were applied to Yoko Ltd and Ono Ltd,respectively,for the year ended 30 June 2015?
A) Functional currency; Presentation currency;
B) Functional currency; Functional currency;
C) Presentation currency; Functional currency;
D) Presentation currency; Presentation currency;
E) None of the given answers.
Correct Answer:
Verified
Correct Answer:
Verified
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