Multiple Choice
Which of the following statements is incorrect?
A) Movements in the foreign currency translation reserve must be disclosed.
B) Exchanges differences included in profit or loss must be disclosed.
C) There is no need to disclose if the presentation currency is different from the functional currency.
D) AASB 121 The Effects of Changes in Foreign Exchange Rates requires disclosures about the translation of financial statements into other currencies.
Correct Answer:
Verified
Correct Answer:
Verified
Q2: Post-acquisition date retained earnings that are denominated
Q4: Which of the following is an additional
Q5: When translating foreign currency denominated financial statements
Q7: When translating into the presentation currency, all
Q14: When translating into the functional currency, monetary
Q21: Under AASB 121 The Effects of Changes
Q25: Which of the following statements is incorrect?<br>A)The
Q25: If foreign currency denominated non-monetary assets are
Q28: When translating from the functional currency into
Q29: The method used to translate financial statements