Which of the Following Statements Is Incorrect

question 22

Multiple Choice

Which of the following statements is incorrect?

• A)income and expenses for each statement of comprehensive income presented must be translated at exchange rates at the dates of the transactions
• B)assets and liabilities for each statement of financial position presented must be translated at the closing rate at the date of that statement of financial position
• C)exchange differences resulting from translating assets,liabilities,income and expenses must be recognised in other comprehensive income
• D)exchange differences resulting from translating assets,liabilities,income and expenses must be recognised directly in equity

---

Definitions:

Double-blind Procedure

An experimental technique where neither the participants nor the experimenters know who is receiving a particular treatment, to prevent bias.

Antianxiety Medication

Medications specifically designed to treat symptoms of anxiety by reducing arousal and calming the nervous system.

Chlorpromazine

An antipsychotic medication used to treat various mental health disorders such as schizophrenia and bipolar disorder.

Schizophrenia

A mental disorder characterized by distorted thinking, perceptions, emotions, and behaviors.