Under the Translation Method Required by AASB 121,the Approach to Translating

question 27

Multiple Choice

Under the translation method required by AASB 121,the approach to translating a foreign operation's accounts includes:

• A) Translating monetary items at the rate of exchange current on the transaction date.
• B) Translating non-monetary assets at the average exchange rate since the date of purchase of the asset.
• C) Translating transfers of post-acquisition equity items within the equity category at the rate of exchange current at the date the original equity item was first included in equity.
• D) Translating revenues and expenses at the average rate of exchange applied to equity items.
• E) All of the given answers.

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Definitions:

Systolic Contraction

The phase of the heart cycle during which the heart muscle contracts and pumps blood from the chambers into the arteries.

Brachial

Pertaining to the arm, specifically the area of the upper limb between the shoulder and the elbow.

Rectal Temperature

A measurement of body temperature taken from the rectum, which provides a core reading that is closely aligned with the body's true temperature.

Sphygmomanometer

A device used to measure blood pressure, consisting of an inflatable cuff to restrict blood flow and a manometer to measure the pressure.