Translating from the Functional Currency to the Presentation Currency Involves

question 27

Multiple Choice

Translating from the functional currency to the presentation currency involves which of the following procedures?

• A) Recognise exchange differences in other comprehensive income.
• B) Translate the income and expenses at the exchange rates at the dates of the transactions.
• C) Translate the assets and liabilities at the closing rate at the date of the statement of financial position.
• D) All of the above.

---

Definitions:

Separation Anxiety

a disorder characterized by excessive anxiety regarding separation from home or from those to whom the individual has a strong emotional attachment.

Stranger Wariness

A developmental stage in infants and young children where they start to show apprehension or fear towards unfamiliar people.

Excessively

Doing or having something in a way that is beyond what is normal, necessary, or reasonable; overly or to an undue degree.

Percent

A mathematical term used to describe a portion of 100, denoting a fraction of a whole in terms of equal parts per hundred.