Use the Tables for the Question(s)below

question 90

Multiple Choice

Use the tables for the question(s) below.Consider the following financial information:
Luther Corporation
Consolidated Balance Sheet
December 31,2019 and 2018 (in $ millions)
-For the year ending December 31,2019 Luther's cash flow from operating activities is:

• A)$9.4 million.
• B)-$18.8 million.
• C)$47.2 million.
• D)$40.0 million.

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Definitions:

Presentation Currency

The currency in which the financial statements are presented by the reporting entity.

Translation Difference

The difference resulting from translating the financial statements of a foreign operation into the presentation currency of the reporting entity.

Equity

The residual interest in the assets of an entity after deducting its liabilities, representing ownership interest in a company.

AASB 121

Refers to the Australian Accounting Standards Board's standard on The Effects of Changes in Foreign Exchange Rates, providing guidance on how to report foreign currency transactions and report the effects of changes in exchange rates.