Which of the Following Methods for Translating Foreign Currency Financial

question 12

Multiple Choice

Which of the following methods for translating foreign currency financial statements may be used under IAS 21?

• A)Current/Noncurrent method
• B)Monetary/Nonmonetary method
• C)Temporal method
• D)All of the above may be used under IAS 21.

---

Definitions:

Surface Plate

A flat, rigid plate used as a reference plane for precision inspection, marking, and layout of materials in machining and quality control operations.

Primary Datum

A reference point, axis, or plane from which dimensions are measured or a baseline for the construction of geometric features in drawings.

Geometric Tolerances

The limits of allowable variation in the shape and size of a part's geometry, including its form, orientation, and location, specified in engineering drawings.

Straightness

A condition where an element or line maintains a consistent path without deviation, typically applied in manufacturing to ensure parts are within specified tolerances.