Which of the Following Statements Is Incorrect

question 9

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/IAS 21 The Effects of Changes in Foreign Exchange Rates requires disclosures about the translation of financial statements into other currencies.

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Definitions:

Physical Violence

The use of physical force with the intention to hurt, damage, or kill someone or something.

Mutual Interaction

Reciprocal actions or influence between two or more objects, organisms, or individuals.

Synchrony

The simultaneous action, development, or occurrence of events or processes.

Unilateral Imitation

The process of copying the actions or behaviors of another individual without reciprocal behavior from the other side.