Multiple Choice
AASB 121 requires the translation of financial statements in which of the following circumstances?
I.if the domestic currency of the foreign operation is not the same as the functional
currency of its parent
ii) if the functional currency of the foreign operation is not the same as the functional currency of its parent
iii) if the functional durrency of the econornicentity is not its presentationcurrency
iv) if the presentationarrency of the econornicentity is not its functional currency
A) i and ii
B) ii and iii
C) iii and iv
D) i and iii
Correct Answer:

Verified
Correct Answer:
Verified
Q2: In relation to cash flow hedges,AASB 7
Q3: Which of the following methods have been
Q4: Explain,using simple numerical example(s),how hedging a foreign
Q5: Explain,using simple numerical examples,the hedging of currency
Q6: The 'spot' rate of exchange for foreign
Q7: Once an entity has designated the hedging
Q8: Maypole Pty Ltd is an Australian
Q9: The 'forward' rate of exchange for foreign
Q10: AASB 121 requires an entity to measure
Q11: Exchange rates between the Australian dollar and