As a Result of Deng's Pragmatic Approach, During the 1980s

question 54

Multiple Choice

As a result of Deng's pragmatic approach, during the 1980s, the per capita income in China

• A) increased 20 percent.
• B) increased 50 percent.
• C) increased 75 percent.
• D) increased 100 percent.
• E) decreased 10 percent.

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Definitions:

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.

Monetary Item

Financial assets and liabilities that carry a fixed or determinable amount of money, such as cash, receivables, and payables.