Bondi Ltd Has an Investment in Christchurch Ltd

question 10

Multiple Choice

Bondi Ltd has an investment in Christchurch Ltd. The shares in Christchurch were acquired on 15 April 2074. Christchurch uses the revaluation model to account for equipment. Equipment acquired by Christchurch on 1 May 2015 was revalued on 25 May 2022. The exchange rate used to translate the building into the presentation currency for the year ending 30 June 2022 is the rate that applied on:

• A) 1 May 2015.
• B) 15 April 2017.
• C) 25 May 2022.
• D) 30 June 2022.

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Definitions:

Contrary

Opposite in nature, direction, or meaning; conflicting with each other.

Contraries

In the traditional square of opposition, a pair of categorical propositions that, in virtue of their logical form, could not both be true but could both be false (A and E).

Universal

Pertaining to or affecting the whole or applicable in all cases; general.

Existential Import

A property of categorical propositions; a proposition has existential import if its truth depends on the existence of things of the kinds specified by terms in the proposition.