The Presence of Data Barns for a Company That Runs

question 23

Multiple Choice

The presence of data barns for a company that runs a cloud service has resulted in increased temperatures in the area of Hollow Bluff, Nevada.  In addition, the presence of the barn interferes with satellite, cable, and other electronic services.  Finally, the power demands of the barn have resulted in surges and interruption in electrical service to area residents.  However, the presence of the data barn has brought 150 jobs to the area.  What will be the likely result of Hollow Bluff citizens bringing suits against the cloud company?

• A)Because there are nuisance effects related to temperatures and interference, the barn will probably be shut down.
• B)Because data barns are necessary for our new technology, the data barn will remain.
• C)Courts cannot issue injunctions against existing businesses.
• D)None of the above

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Definitions:

Functional Currency

The currency of the primary economic environment in which an entity operates and carries out its transactions.

Presentation Currency

The currency in which financial statements are presented. This may differ from the functional currency in which transactions are recorded.

Accounts Receivable

Money owed to a company by its debtors for goods sold or services rendered on credit.

AASB 121

Specifies the requirements for accounting for foreign exchange rates and their effects on foreign currency transactions, including translation of foreign currency financial statements into the entity's presentation currency.