Under AASB 121/IAS 21 the Effects of Changes in Foreign

question 12

Multiple Choice

Under AASB 121/IAS 21 The Effects of Changes in Foreign Exchange Rates, an entity must disclose which of the following items in particular? I. The amount of exchange differences included in profit or loss of the period.
II) The amount of the exchange difference included directly in share capital during the period.
III) Whether a change in the functional currency has occurred.
IV) The reason for using a presentation currency that is different from the functional currency.

• A) I, II, III and IV
• B) II and III only
• C) I, III and IV only
• D) I and IV only

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Definitions:

Price Inelastic

A characteristic of goods for which demand does not significantly change with a change in price, indicating consumers' necessity or lack of substitutes for the product.

Higher Education Supply

Refers to the availability of college or university education opportunities, including institutions, programs, and courses offered to students.

Price Inelastic

Describes a situation where the quantity demanded or supplied of a good or service changes minimally in response to price changes.

Elasticity

A measure of the responsiveness of the quantity demanded or supplied of a good to a change in its price, income level, or other factors.