According to AASB 121,assets and Liabilities for Each Statement of Financial

question 11

Multiple Choice

According to AASB 121,assets and liabilities for each statement of financial position presented shall be translated at:

• A)exchange rates at the dates of the original transactions
• B)the closing rate at the date of that statement of financial position
• C)the spot rate at the start of the financial year
• D)none of the above

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Definitions:

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A business approach that focuses on creating new products or significantly improving existing ones to maintain competitive advantage.

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The worldwide economic markets where goods, services, and financial assets are traded across different countries and territories.